A STR is probably going to take more day to day time to manage than LTR--do you have the bandwidth to handle more demands? 

@Bonnie Low  How does baselane handle credit card transactions?

What is the best way to handle this?

However, there may be a commonly expected way of handling it in your area.

Being the highest quality locaitons in all of MS or at least central MS you get the very best tenants.. then my office staff handled the monthly collections.. so hybrid.

I handle payments by draws and I must always be ahead and work versus payments.

Later, you could refinance, pay off the sister’s share, and potentially renovate further to add value.The big questions seem to be how to handle the mortgage so the parents aren’t stuck paying rent and whether setting up a trust or another legal structure makes sense for passing ownership smoothly.

Do you include specific clauses in each of your subject to deals spelling out exactly how insurance on the property will be handled?

Small-Scale Testing:If you're uncertain about diving into a larger project, you might want to test them with a smaller loan to see how they handle the process.

If a PM handled similar situations, they would be using their HVAC go to technician, they would take a certain % of the total and add ontop of it for themself, parts would probably get marked up, it would be like 3x.