As the new property manager, you have the authority to enforce its terms.

The guru your son is learning this technique from is likely not telling your son that the deal will almost certainly encourage your son to get an "off-market" deal from a "wholesaler" who is unlikely to properly disclose the details of the property or encourage an inspection. 

But I don't know your personal situation and all the financial details. 

In terms of other factors, I'm not sure there's a lot because I did have some people express interest in filling out an application before, and I actually got really close with one potential tenant, but it was because of the alcohol policy that he ultimately decided to back out.

Specifically, short-term rentals can help you get REPS status.

With your primary residence, things can be pretty straight forward in terms of splitting mortgage interest, real estate taxes etc. on your returns.If you go into a rental property, there are a lot of considerations to think about.

Make sure it explicitly explains the process for termination if you are unhappy with their services, especially if they violate the terms of your agreement.3.

I am paying a bunch of interest on the short term loan, with no timeline or updates.  

My name is Omar Santander a new investor that is interested in residential units (single-family and multifamily, with a particular emphasis on multiunit), house hacking, long-distance investing, BRRRR and mid/long-term rentals.

Just be willing and prepared to make it a long-term investment to get you mentally and financially through any bumps in the market going forward.Good luck!