But there is a lot more risk and skill sets involved Developing. 

I’m educating myself, saving up money and keeping an eye on the market.

Alongside my academic pursuits, I have been involved in various entrepreneurial ventures.

Understand the fees involved and calculate the total cost for an entire year of management so you can compare the different managers.

I read everything I could about automotive facilities; spoke with brokers who had been involved in transactions in these type properties, and attended meetings, conferences, and joined associations of automotive repair shop owners4.

We also keep an eye on hourly wage growth, at the moment 5.1% in Wisconsin (yes, over inflation). 

With that being said, I have been involved in over 50 Flips here in San Diego.

@James McGovern and now that the DOJ has gotten involved in our business that Rep agreement needs to be signed ( well it always should have, but now dates will be verified ) so yes if you want to work with a professional Realtor that little document is part of the process.

If your wife is a stay-at-home mom and is involve with managing the rentals you may want to explore Real Estate Professional Status as an alternative tax strategy or along side your STR tax strategy.

First, ensuring that each property or group of properties is held in a separate LLC can limit exposure, confining potential liability to the specific entity involved.