Make sure the exterior of your property looks inviting and well-maintained.

Focus on fundamentals: buy below market value, have strong cash flow (or a clear path to creating it), and maintain sufficient reserves to weather any unexpected challenges.If you’re strategic and stay patient, this market could create opportunities that lay the groundwork for long-term success.

No one's perfect and honest mistakes happen and a PMC often needs guidance as to what level an owners wants to maintain their property.Wasn't trying to solicit your business,so I'll respond via DM about the rest of your questions:)

I believe we would maintain this setup if we purchase the property. 

@Tom Dieringer After purchasing my first property in 2024, I acquired most of my short-term rental (STR) knowledge from The Short Term Shop, which included maintaining respectful communication with guests, keeping calendar availability up-to-date, and ensuring high-quality listings.When I initially began May of 2024, I opted to list my property exclusively on a single Online Travel Agency (OTA) - Vrbo.

With less experienced or just poor planning operators, it isn't uncommon that they spend years distributing all the cash out to the owners, and then the time comes for a multi million dollar refresh to maintain the hotel brand, and no one wants to cough up the money back into the entity.

By building strong connections and sharing knowledge, we can support each other's journeys and uncover new pathways to success.Moreover, let's not forget the importance of maintaining a healthy work-life balance.

I've had the exact same thoughts in regard to the matter but a colleague of mine had the question and I wanted to pose it to the group. 

I'm trying to be specific and helpful for the question posed by OP, for his particular situation.

Quote from @Chris Magistrado:The point he's making is that the agent must take responsibility for building and maintaining their business, and the Broker won't play much of a role.