Most major metros can handle MTR only and STR only--- it's a strategy discussion.

Residential, in my opinion, is a hassle so I am getting rid most of those properties so I can reduce my hands-on activities by 90%.

I couple weeks ago I talked to an agent selling a VA foreclosure in Southern California and he said their last sale was handled by New American Financing but he didn't have a whole lot of info other than that.  

I mean, it's your property......At least that's how I always handled it....

However, refinancing would likely mean I'd have to pay PMI, which could reduce my cash flow.

If I purchase a short-term rental property and hire a property manager to handle its management, would the income be considered passive under my visa status?

That was the biggest benefit that came up time and again was the amount of time that they stay in the property reducing turnover.

Financing on those is not as good so reduces returns going in.

I'm curious how they handle the calendar, pricing, guest communications if they don't have a STR PMS.

In addition if you use a title company or lawyer to handle the closing then they are legally required to report the sale to the IRS etc.