Breaking out into silos where the owner deals with multiple SMEs vs a single point of contact. 

But my kids are really into Tax Sales ~ but the best deals they get are using the tax sale list to contact owners . . . offering to clear / pay tax debt and give owner some $ for house ( so they can afford to move out. )This must all be done BEFORE the auction  If owner does nothing, and house sells at tax auction, then they get nothing ~ loose the house and the sheriff evicts them  This is all not easy ~ and the success rate is probably less than 1% . . . but they've got some amazing deals. 

Unfortunately, only 28% of owners successfully filed a protest. 

It’ll save you headaches and give you better reporting.References: Don't just check for google reviews but do quick check with couple of their current owners who can tell you a lot about how they handle day-to-day operations and money.I manage 400+ units and these are things that I try to be on top off and the rest are just services that can be added or deleted, but I believe the relationship with your PM is the key.

Hello all, currently looking to begin my path into real estate investments and learn from other experienced members. Have experience in the repair, remodeling and improving property that I've owned. But seeking to fin...

@Chaim MalWe’re a Property Management Company (PMC) in Metro Detroit ONLY, with 25+ years of experience, and we’ve seen owners make the same mistakes, over & over again when looking to hire a PMC – which drives us nuts!.

Great points, Jeff — and you’re right to highlight that the expense ratios are unusually efficient for a coastal STR.A couple of clarifications on the numbers:The current owner self-manages, which keeps cleaning and maintenance costs lower than a third-party STR manager would typically charge.Some of the repairs and CapEx were front-loaded in prior years (new flooring, appliances, and paint), so last year’s P&L reflects more of a stabilized-operations scenario.The utilities figure is accurate — it’s higher due to being master-metered for the property — but the other OPEX categories are slightly understated if you were to underwrite this as a fully managed, third-party operation.If I modeled it using a professional management assumption plus normalized reserves, the operating ratio trends closer to 48–50%, which aligns with what you mentioned for coastal STR multifamily.I appreciate you calling that out — it’s a great reminder of how much variance there can be between owner-operated and institutional-style expense reporting, especially in hybrid STR assets like this.Here's the owner's profit and loss statement for the exacts of the 2024 year.

Can anyone recommend a good script for cold calling land owners or at the very least, a general script to call property owners?

The full background: The true owner was absentee and lived in New England.

., many property owners will be willing to share information after a serious offer has been presented.