Tools like Cozy or Buildium can streamline processes.Understand Legal Obligations: Stay updated on Colorado landlord-tenant laws to ensure you're compliant with security deposits, lease agreements, and eviction processes.Effective Communication: Set clear expectations with your tenants about communication channels and response times.Regular Inspections: Schedule periodic visits or hire someone to conduct property inspections to catch minor issues before they become major problems.Final ThoughtsWeigh the pros and cons based on your circumstances.

It will take time to scale but that will take a majority of your time as you get it off the ground.

The tenant is paying their portion of the rent (the majority is coming from city) but the tenant has been difficult to deal with and I'd like to find an new tenant once their lease is up.

That the majority of the owners are paid up.

We continue to see the majority of sellers offering partial or full compensation of buyer agents.

If the second property you are buying is not turnkey, will require some work, and there is a clear value/range of what you can bring the property to by adding value then you can refinance to pay back the majority if not all of your HELOC (used for downpayment or to buy the property completely).You'll need to know how to analyze an after repair value of the property to figure out if that technique can work or not.

Like others have said, you don't need an LLC to get started with STRs.If you own a single unit or even 2 or 3, simply make sure you have the best insurance to cover any issues as well as an umbrella that can cover any excesses.Plus the major key will be maintenance.

For example, let's say there was a major development on rent control, that would allow me to pivot and understand next steps.

I think one of the major issues is W valley basically only has Pinot .. compared to Napa Sonoma were virtually all varietals are grown and bottled. 

DSCR sitting mid 6s today in the majority of scenarios.