I believe this was the loss limit @Chris Seveney referred to.

For reference, the occupancy for Fall 2020 was 97%, Fall 2021 was 100% and 99% for Fall 2022.  

@Corbett BrasingtonIf you are communicating with the seller directly, better to have less people talking to the seller.The realtor can have some roles as follows1) Connect you with his references for property management / contractors / title companies / etc2) Give you comps to indicate what the property is worthBest of luck

I'm happy to help or refer you to a colleague.Thank you!

For reference, we're heavily involved in the co-living space, which is an unorthodox strategy but can perform exceptionally well with the right property and systems in place.

Curious what loopholes you are referring too?

Laguna is a great area I have some good friends down there if you need some references. 

. :)Please refer to the related thread here: https://www.biggerpockets.com/...Feel free to contact me with any questions. 

This requires some effort and not just relying on a reference from someone or a quick glance at their fees.

Avoid common mistakes like underestimating expenses or overleveraging, and vet property managers carefully by checking reviews, references, and their management style.Good luck!