Consider how your property would do as a LTR and underwrite those numbers (worst, middle and best case).I am very happy with my investment but it has been a lot of work and many challenges managing it from California.

I’m seeking advice on how to handle a challenging situation with noisy upstairs neighbors in an upscale Miami apartment community.

Quote from @Raymond Whitley: Not sure if Goosehead is in your area, but a broker like someone at this company can really help you in challenge times for insurance like this current market with so many carriers dropping out completely or raising rates on everyone. 

Many investors choose a profit-sharing model for true equity partners, often splitting profits 50/50 or based on the level of their contribution to the deal, but ensure everything is clearly defined in writing to avoid misunderstanding/miscommunication. 

Real Estate should not be depreciated.Depreciation is one of the most beloved tools in real estate investing, but let’s take a moment to challenge the norm: Should real estate even qualify for depreciation?

There are DTI and underwriting challenges of course, but do the best you can in keeping loans in only ONE person's name. 

Here are my initial thoughts:As a small landlord in Ontario, my experience over the past eight years has highlighted significant challenges in managing rental properties effectively.

Not true at all.If you want to successfully run an STR you need to be on both AirBnB and VRBO at the very least, PLUS run direct bookings.

In many cases, it takes a few years to really start seeing any appreciable cash flow, but it is the relationships we make, the learning and overcoming challenges and obstacles every day that is the true rewards in this business.

A challenge that may arise, depending on the other tenant leases, is that they are all paying above market rates and will see the new rate being marketed and will want a discount at renewal.