I have 1000 sqft so $250k.if I have no GC and manage all the subcontractors I will not have a Rolodex so have to find subcontractors and I’m sure there are a million other complexities.

I have 0 experience managing STR properties, but lots of experience using Airbnb from my travels 😅 I am halfway reading Avery Carl’s book on STR.

Not impressed with other large institutional managers who are very light with boots on the ground and in many ways have the attidude they are assisting you in managing the property, not managing it for you.

I have five houses in Memphis area, and the biggest problem has been finding a good property management company. 

Even if you break even, you will lose money every month it sits vacant, when you need repairs, property management, etc.

They go through a management company, M.

I know that RTR positions themselves as “turnkey” but the reality is that they are more of a hybrid model - they set you up with everything you need and facilitate relationships with lenders, insurance, property managers, and so forth - but they are not the actual service providers.

Getting a rental license as an out-of-state investor is doable, but you’ll need to manage inspections and compliance.

You are definitely going to want to get a lawyer and as soon as possible.This will sound harsh.In your story, you have made a number of very poor decisions about how you purchased and managed this property. 

I’m a Realtor and property manager in Austin and happy to help in this area!