Many Smokys owners are having to make a decision in the next 48hrs on having to cancel incoming guests this weekend due to weather/snow event. 

Yes, 2 percent.Then again, we are heavy with staff so that stuff gets done for our owners.

How did you decide on this property, and what’s been your biggest learning from this project?

. - Fortunately, our transparent systems allowed the owner to catch it:)- Full transparency - we would have never caught this honest mistake:(An owner also needs to be involved to approve & fund large expenses: maintenance, property tax & insurance payments (if they want to be more hands off), evictions, etc.A great PMC should also have a chat with you annually about your future plans for a property and your portfolio. 

I decided to leave it in a high yield savings account due to the reasons you all mentioned.

However, if the owner lives in Cuyahoga County or a contiguous county, the owner may be listed as the local agent in charge.

As such, just upkeep and maintenance of the yard became a factor in deciding to sell.

The moral of this story is to have good home owners insurance!

This operational company would have a 1 to 2 year lease agreement with the property owner.

Ask to speak with some of their current owners and current/former tenants.