The way that I have done this in Costa Rica has been to bring in several partners on a high end luxury property who would like to own a part of a property that they can use and enjoy but that they don’t have to manage by themselves.Each of the properties that I own are at a million or higher or will be soon. 

My focus is shifting from cash flow to equity management as well as our portfolio mix.

In terms of property management, she mentioned that she has her own property management company.

Start with a good property manager.  

Based on my experience managing a significant number of rentals, leasing back to a seller can work, but it’s essential to approach it carefully.Lease Start Date:The lease should be signed at closing and start on the same day—Monday in your case.

They often provide standardized lease agreements that comply with state and local laws.Additionally, many landlords use platforms like Avail, Zillow Rental Manager, or TurboTenant, which often include customizable lease templates that are state-specific.

Work out a fair revenue-sharing model, such as a flat lease or percentage of profits, and consider hiring a property manager for oversight.This post does not create a CPA-Client relationship.

I'm tempted to do what many have said which is to just use a debit card, but I get 2% back on a CC, which is not insignificant when managing dozens of vendors, and I really hate to change a process that's working because the software I chose is lacking a basic feature.  

Working with a property manager will give you a lot of hands-on experience in the day-to-day of managing properties. 

We're improving units, management efficiencies and bringing rents to market value.