Tenant 2 stays. 5 months goes by to come to find out that now tenant 2 moved out without our knowledge and let squatters move in.. had to file for eviction, got them out finally.

I've finally decided to do a new member introduction! 

Use the lookup in the commercial section any post with my name and titles Deal 1 thru 14 deal analysis.  

Consult a real estate attorney and CPA to finalize the LLC structure and ensure the transaction, tax filings, and ownership terms comply with state laws and IRS regulations.

There are short-term rental management companies that can help with that.One that I work with in Michigan covers the entire state and can advise on local short-term rental regulations or regulations that may be on the way, they can give you an analysis of the demand for short-term rentals in that area, nightly rates in that area, monthly occupancy percentage, and projected monthly income.They also let you choose the level of service you would like from them from full service to minimal.To your success!

Last year we had a water leak on a Friday night, we had somebody out immediately Friday night and came back on Saturday to do final clean up. 

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.

Rent analysis is around $3400-3500/m which will net me $1200-1300 cash flow if self-managed.

The bad financial situation was that we bought a residential painting franchise that we are finally out of.  

Start with a competitor analysis—see what STRs and MTRs in your area are charging and their occupancy rates.