They develop, they build, they finance, they property manage, they will have HAO, cleaning crew etc. etc. etc. so the subsidiary companies make money every step of the way.From investor perspective: The investor pay $15 K to reserve the right to purchase 25 multiplex over the year of next 5 years. 5 each year.

I currently self-manage three properties in the Atlanta metro area and have learned a ton through trial and error over the years.

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.

Especially if you are hiring property management.

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.

The tenant supposedly had complained for months to the property manager that the furnace was not working.

Is it possible to have a property manager who manages some of the property, while I manage the rest remotely?

We manage several hundred rental properties throughout the San Diego market and I found your post very interesting. 

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. 

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.