Whether To file a 1065 partnership return or being treat it as a disregarded entity, Is the determination based on the location of the property or the owners' residence state?

If you feel like you’re managing your property manager, it’s a strong sign that the manager may not be the right fit.

➡️Develop a strong team and business structure.

If you’re considering other custodians, I recommend focusing on those with a strong reputation for consistent customer service, transparent fees, and ease of account management.

To invest out of state successfully, focus on building a strong local team (agent, PM, contractors), automating deal analysis, and using contingencies to protect yourself.

Start by researching affordable states with strong rental markets and landlord-friendly laws.

Since it sounds like you have strong W2 income and would probably be okay paying the mortgage sometimes, I'd even explore a 5-10% down payment option.

Landlords who adapted quickly by recalculating rent strategies and communicating openly with tenants maintained strong relationships and minimized financial disruptions.5.

My target markets include any region in California, and I’m always on the hunt for properties with strong value-add potential.If you’re experienced with rehabs, BRRRR, or creative financing strategies, I’d love to connect.

Since you’re considering converting the upper unit into a short-term rental, you may also want to implement strict rules around smoking or strong odors in your house rules to avoid future issues.