And if you are need of MTR management services, my company, Island Stays Hawaii, provides premier STR and MTR management services.   

The shorter the prepayment term has an impact on increasing the rate.4.

Networking through meetups and leveraging online communities like BiggerPockets can provide invaluable support and insights as you take your first steps.Good luck!

The Detailed Engineering Cost Estimate Approach is typically used for the purchase of used property.SURVEY OR LETTER APPROACHOnce a site inspection has been completed and all components of a property have been determined, your specialist will send a survey or letter to the contractors or subcontractors to request they provide the cost of each of the items.

Who is your favorite DM list provider and why? 

Yes, I'm a Property Manager in the greater Phoenix area.We are a mid-size property manager, large enough to have great tools and support but small enough to provide personal service.

I merely provide good information and good answers. 

Being listed on multiple OTA allows users that use alternate OTAs to see your STR and could provide a higher ADR even if you end up lower ranked of the OTAs.Basically it comes down to having all your eggs in a single basket and is too risky for my liking.i am one of those STR owners that corrects anyone that refers to my STR or STR business as an AirBnB.  

A mild recession is possible, but its impact on housing demand will depend on regional and economic conditions.

Landlord insurance covers the dwelling/property.Renters insurance has liability coverage which might provide you coverage if your tenant is negligent or liable for an accident/damages, etc.You can/should have your tenant list you as an "Additional Interest" on their policy.