This is when I get references, credit score, and background check.

@Vy LeRecommend exploring as many sources as possible to get referrals AND cross-reference them to get as much accurate information as possible.Check out NARPM.com, BP’s Property Manager Finder (BiggerPockets: The Real Estate Investing Social Network), etc.Also, encourage you to learn from the mistakes of others - by reading posts here on BiggerPockets about owners not having their expectations met by their current Property Management Company.

What Zach is saying here is that you won't be able to utilize the "STR Loophole" which refers to using any net loss from the STR business to offset any income from other sources like W2 income or 1099 business income.

Hi Fred,To be fully approved, you need to register the property specifically as a short-term rental in addition to the regular rental registration.

@Sean Minihan I always recommend you find a REI group near you that meets regularly.

Thanks in advance for patiently answering my question.PS: I don't have a CPA, and I'm in the process of getting one, but I wanted to get a frame of reference so I can roughly compare notes with anything my future CPA would propose.

I want to get references from other JV partners who have done this with DLP.

My family does regular checks and some of the neighbors send me pictures. 

Are you referring to the crazy law where if you buy a property from a deceased person (we have had this happen via foreclosure) that you (even if you were the lender) are responsible for inheritence tax. 

if it's helpful to know, the place is a condo.David Best way is to be referred by your accountant and given exact math on how it will save you money on your specific tax scenario.