Building Strong Relationships: The Key to Property Management SuccessIn property management, success isn’t just about managing properties—it’s about managing relationships.

Quote from @Kody Smith: without getting too deep into my finances, what my strategy is...1. take loans to buy properties (leverage)2. fix/flip for day to day cash flow income3. use some of the fix/flip income to buy consistent cash flow through:- business acquisition, - commercial properties (MF and store fronts),I have no intention of doing ALL of the management myself, I will hire management as needed (medium term goal)my expected core role is money provider, evaluating the numbers, making decisions, and connecting with investors, wholesalers, lenders, contractors, and property owners.while I am just on step 2 of the journey, I am looking toward step 3 to stabilize, and not worry about if house prices drop mid project or not (or not worry as much) So to be fair this is more about obtaining and growing a real estate business not simply buying rentals for cashflow.

In this case, you would draft an operating agreement that specifies each partner's role—your friend providing the cash and you handling the rehab and management—and that profits and ownership are split evenly.

I'm born and raised in Houston and now work with a full service long-term rental management managing over 300 doors - all SF or MU (up to 4 unit).

I've been managing for 15 years and have helped a couple owners change/expand their portfolio. 

Hire a property management company who will manage it for you.

AI is already impacting lead management in a huge way.

I was curious how those of you that work with partners clearly define the roles and benefits within your entity.

First, Are you licensed and insured to manage other people's properties?

It’s definitely worth exploring if you’re looking for a robust management tool.