Memorial Day to Labor Day will pretty much take care of itself, but adding in amenities like a hot tub and a sauna will help you draw in more traffic and bookings even when there's a foot of snow on the ground.Just to touch on the LTR option, I don't know if this would get you the kind of returns you'd be looking for to even cover your mortgage, let alone cover any maintenance/capex/management costs the property might require. 

What are you going to do for PM and Maintenance as a 40 unit will not support full time either position and that makes for management challenge.

Common fees will include a set-up fee, a leasing fee for each turnover or a lease renewal fee, marking up maintenance, retaining late fees, and more.

We do monthly maintenance on every single piece of equipment every month- whether it needs it or not. 

This includes metrics typically only the manager would need to focus on (work orders, billing, venders, tenant screening, tenant communication, maintenance management, etc.)I tried Stessa in years past, but it wasn't able to grow with me, and it was not a system my bookkeeper and accountant were familiar with.

But there was lots of baggage with it for sure between the tenants and  deferred maintenance and needing a 4 story porch redone.

@Carlo D.We have a separate account for both maintenance, as well as escrows for taxes and security deposits.  

Any maintenance issues?

However, I started out with a small cash reserves account to cover CapEx, Vacancy, and Maintenance.  

(I know I know - this is not the proper cash flow equation because it doesn't take into account vacancy, maintenance and capex) This cash flow does not take vacancy and maintenance into consideration, so that’s the risk.