Self managing is a solid way to learn the business, and it’s smart that you’re already setting up systems and tools. 

If you found a few handymen you could rely on, and make a trip out there for a few days to get things set up with shopping, decorating, and furnishing the STR that would remove the red flag of the property manager, and significantly boost your material participation hours to clear one of the thresholds.

Next Steps: Find lenders, network for private money, explore seller financing, and set up gap funding.

that will almost certainly set you back.hope this helps. 

Are you both friends and have unique skill sets and are breaking up the duties of investing based on those skills?

Explore my personal favorites, Set For Life by Scott Trench or The Total Money Makeover by Dave Ramsey, for invaluable financial insights.3.

We never set a flat fee rate just out of a whim, or price strategy, it's part of the operational strategy which is different, as it's all about efficiency. 

How is that set up and is it a pretty smooth transaction? 

To make taxes easier we set up a business checking account and had all the rent paid into that account and all the expenses paid out of that account.

I just finished reading "Set for Life" by Scott Trench.