What markets are you looking into? 

Include a buyout clause allowing you to transition to sole ownership after two years, based on a pre-determined valuation formula or market value.Use an LLC to hold the property for liability protection and pass-through taxation, ensuring both partners benefit from depreciation to offset rental income.

We know many agents in our market that are really clueless beyond the basics of tenant screening. - You have no recourse against an agent or PMC once you pay them for the placement and it turns out to be a terrible tenant:(If you have the time and network and post here for assistance, it's always a good idea to learn the rental business from the "ground up".Of course, one mistake can also cost you thousands of dollars.

If you're looking to connect I am happy to chat about this market and find a property within your goals.

Purchase price: $275,000 Cash invested: $129,000 20-unit hotel, was abandoned and had sat on the market for 3 years.

At what point do you start marketing?

STR seems to have better tax benefits (in the right market) but is it worth it at a distance ???

To be honest in today’s market I’m not seeing nearly the amount of wiggle room in renegotiating a price based on repairs.

So the idea of doing this all from afar is a bit daunting, however, I know the most important thing here will be to create a great team and outsource as much as possible.I have set my sights on a couple of different markets being in the Southeast and the Midwest; these markets seem to provide the cash flow I am initially interested in generating to value add to the properties I purchase.

If have investment property, we are looking for relatively updated units (we are ok doing some work ourselves), class C+/B tenants, with rents either close to market rate or that can be increased.