I’m struggling to understand why all of this is necessary just to use their property management software.

We're new to real estate and would appreciate advice on our current home in Texas and our future place in Oregon.We love our house in Austin and aren't ready to sell, but as a long-term rental, it would yield (from what I understand) negative cash flow, covering principal and interest but not taxes and insurance.

@David F.As Russell mentioned co-ops are probably 1/2 the price of a condo and you would also have extensive costs to set up a co-op and typically it’s my understanding the builder funds the first 1-2 years of reserves.

For context I am a full time lender and understand DTI and have very good credit. 

If you are going to sell then you must understand the tax implications. 

My best understanding from talking to reps is they have one local employee (in addition to vendors like cleaners, landscapers...) per 10 listings/properties. 

This will give you a clear understanding of its rental potential and whether it’s worth it as an investment.

This strategy aligns well with the buy-and-hold model.Leverage Local Expertise: Partner with professionals like real estate agents familiar with rental markets and property managers who understand tenant needs.

You don't need to know everything to get started; you need a foundation to build on, and the rest will come through experience and then refining your education.You can build a basic understanding of investing in 3-6 months.

I understand Vermont has slightly more stringent regulations to contend with but it would also be closer for us geographically and thus potentially easier to manage.