They need a lot of systems to be in place and need a LOT of attention on the marketing and maintenance sides. 

Keep in mind, you will likely have to install a sprinkler system, among making other changes for the home to be used for that purpose.

You can also look at Schedule E, which connects to depreciation, though it won’t show the exact cost basis.Since depreciation affects the final cost basis, you might want to ask your CPA for a summary of your properties' bases to save time in the future.They should have a system where we can give you not just the basis but also a detailed gain (and estimated taxes) calculation within a day.

Assuming you are not subject to rent control, file the Failure to Pay Rent form and start eviction proceedings.

Hiring a Property ManagerManaging Yourself:Control: You have direct control over tenant selection, maintenance decisions, and overall management style.Cost Savings: You save on property management fees, which can range from 8-12% of monthly rental income.Challenges: Being across the country means responding to emergencies or maintenance issues can be tough.

My personal soapbox statement - Airbnb is an abusive spouse that slowly people are waking up to realize they are in a controling abusive relationship and they start to develop an escape plan (more platforms/direct website) so they are no longer relying on Airbnb.

Turns out, during construction, one of our vendors flushed something down the toilet, causing a clog, which led to the system overflowing and flooding the home.We ended up having to cut and replace drywall in multiple rooms and swap out the wet carpet, which will cost us around $10K.Mishaps like this will happen in Real Estate.

The only way to remove them is through the court system.

You can have control and build a business, and learn hands on.

Hey @Ruth Reyes, I agree with both @John Underwood AND @James Carlson.I never really look hard at condo's due to the HOA fees and the fact that a controlling member can rule the roost.For example we almost bought a ski condo at the Inn of the 7th Mountain in Bend Oregon.