To avoid going through the same poor experience, keep reading.Even if someone gives you a referral here, do NOT make the mistake of assuming that the PMC will meet your expectations, just because they met the expectations of the referral source.In our experience, the #1 mistake owners make when selecting a Property Management Company (PMC) is ASSUMING instead of CONFIRMING.It's often a case of not doing enough research, as they don't know what they don't know!

Tell the insurance rep what you are doing and they will help you select the appropriate policy. 

Anything that is almost guaranteed to be used daily in your rentals (i.e. couches, bed, chairs), I'd try to invest in as much quality as you can for those specific items.Some store sites will let you filter for "contract grade" or "commercial grade" items - these are the sorts of furnishing that get put into higher-use commercial applications such as hotel lobbies, apartment building amenity spaces, etc. 

I think this could be a tough road to navigate but I would certainly look at minimum standards for owners just as you want to be selective on the tenants you put into a unit I think you want to be selective on the owners.

I was previously told that only the owner could make any sort of deal before auction, since the attorney doesn't represent them.I find this all very fascinating.

Many books talk about selecting a great team around you, but do I really need one to start out and how would I create a team if I've never invested before?

Lenders will use an AMC, and that AMC will select a random appraiser to inspect the property.

That sort of thing.The last thing I want to do is bombard a bunch of family members with what they might consider spam.

To avoid going through the same poor experience, keep reading.Even if someone gives you a referral here, do NOT make the mistake of assuming that the PMC will meet your expectations, just because they met the expectations of the referral source.In our experience, the #1 mistake owners make when selecting a Property Management Company (PMC) is ASSUMING instead of CONFIRMING.It's often a case of not doing enough research, as they don't know what they don't know!

They certainly don’t do any sort of ownership verification before allowing you to list a property.You’ll no doubt hear from the BP community here (probably even before I finish typing this) that despite all the Instagram millionaires STR arbitrage is not a good business model and is generally discouraged.