Well, come tax time, I had to unravel 3 LLCs with quite a bit of expense and am paying double tax because of their lack of care and knowledge.

However, short term rentals are much less passive than long term rentals and are essentially a hospitality business, which is in and of itself required a whole additional layer of knowledge and expertise.With regard to your question about private lenders, it’s important to draw a distinction in terminology between “private” and “hard money.”

Right now evaluating potential markets, I'd like to find one to focus on for my first 3 properties (building knowledge in a specific market). 

Something will come up that you do not understand or do not have to knowledge to deal with.

It’s a huge move, and you’re already starting off strong by asking questions and soaking in as much knowledge as possible.

Instead, you’re attacking a strawman and questioning the knowledge/character of others.

However, forgive my curiosity - I'm really just trying to soak up as much knowledge as possible.

Purchase price: $8,000 Cash invested: $20,000 In 2013, I put my knowledge into action by purchasing a two-bedroom home for $8,000 as a home for my mother, though she wasn’t thrilled about it.

I don't have any experience in Augusta, but if you are interested in Detroit or Memphis, happy to connect and knowledge share.

Some key qualities to look for include:- **Responsive communication**: A PM company that keeps you in the loop and addresses issues promptly- **Local expertise**: Knowledge of the Birmingham market and experience with Section 8 tenants.- **Proactive maintenance**: Regular inspections and quick resolution of maintenance issues to keep tenants happy and properties in good condition- **Transparent reporting**: Clear and detailed financial reports so you know exactly where your money is goingIf your current PM isn’t meeting these standards, it might be worth exploring other options.