Hi Ken,After managing hundreds of properties and working with investors (many from out of state) for over 20 years, I’ve seen Tampa, Orlando, Lakeland, and Miami all work—but each has its own flavor.

Try interviewing at least three managers.1.

Do I lean 100% on the property manager to find renters? 

that we’ve learned in our 24 years, managing almost 700 doors across the Metro Detroit area, including almost 100 S8 leases:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+ (roughly 5% probability of default), zero evictions in last 7 years.Section 8: Rents are too high for the program and cash paying tenants are better overall.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680 (around 10% probability of default), some blemishes, but should have no evictions in last 5 yearsSection 8: Rents are usually too high for the program.Class C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.

Would love to connect with any other investors, agents, or property managers in this area.

And is it pretty easy to manage or no?

I have a passion for entrepreneurial ventures and my goal is to venture into real estate purchasing 3 properties over the next 6 years and launch a property management business at that 6 year mark.

Hopefully we will be managing a handful of other STRs in the same market in the future.

He said cash flow is the blood of your portfolio.

A feature that our Pro Members love is the fact that they can manage of all their rental properties for free using RentRedi.