For those STR operators and investors that are not comfortable self managing (communication with tenants, scheduling cleaners and organizing supplies) one option is to hire a designated full/part time employee. 

Like @Michael Bowman previously stated, I am completely comfortable paying a set fee to cover administrative costs as long as that fee is reasonable, established upfront and the PM is seeking to negotiate the best rate on my behalf. 

I definitely could've tried to maximize my monthly income by renting the property by room, but with HOA restrictions and my inability to comfortably find a property manager that manages rentals by the room were my biggest reasons to rent out the entire property under one lease. 

Ikenna,Depending on where you are located and your comfort level you can find a lot of great deals in multiple states. 

I know some people are against buying properties that won't have a positive cash flow, but I'm comfortable with it because it is a long-term investment for me.

As we did our financial planning she needed comfort.  

@Gabriella NataldieWith $10k in savings and $8k in hospital bills I would not be buying a multifamily propertyA roof, hvac system or major repair would wipe out that $10k.Closing costs alone on the property would be more than $10k.While it’s awesome to be ambitious, I recommend focusing on saving $ and building up enough capital so you can comfortably afford to buy a property

Both are valid strategies – just pick the one that aligns best with your financial goals and comfort level.Happy investing!

Smart thermostats can ensure a comfortable temperature upon arrival.

Push out of your comfort zone and everything else with get easier!