All channels can work in real estate, though some pan out more often than others.

I've built relationships with property managers who have distressed properties in their portfolios that can communicate directly to owners. 

Mine was also out of state, in a town I’d never visited, and I relied heavily on videos from my agent.This sounds like a tough first deal, but it seems like you have some capital on the side, which will be useful as you face the upcoming challenges and learn from those expensive early mistakes.Regarding the subject of this post, “help me adjust my expectations,” I’d recommend assuming that; repairs will cost twice as much as you estimate, maintenance and vacancy rates will likely double from your initial projections, there’s a very real chance you may lose money on this deal.That said, there are ways to mitigate these risks by:- Keep asking questions here on BP and connecting with local experts- Stay proactive and communicative with your agent and property manager.And remember “Inspect what you expect.”Im not trying to discourage you but to help reset your expectations.

Some key qualities to look for include:- **Responsive communication**: A PM company that keeps you in the loop and addresses issues promptly- **Local expertise**: Knowledge of the Birmingham market and experience with Section 8 tenants.- **Proactive maintenance**: Regular inspections and quick resolution of maintenance issues to keep tenants happy and properties in good condition- **Transparent reporting**: Clear and detailed financial reports so you know exactly where your money is goingIf your current PM isn’t meeting these standards, it might be worth exploring other options.

STRs also avoid automatic classification as passive if rented for seven days or fewer per tenant.To maximize tax benefits, maintain detailed logs of all hours worked on activities like tenant communication, cleaning, maintenance, and marketing.

Prompt, great communication, efficient ... and most importantly they are 100% legit 😉

They've become a sort of extended family.Otherwise, I had done wholesale acquisitions and a live-in flip.I have a YouTube channel with a few videos that discuss house hunting, nuances of buying real estate in Italy and show some of our renovation process. 

Do not communicate with the tenants except as advised by the attorney.

If it’s verbal, they’ll need to document any prior communication or payment records to establish the relationship.If the PM is completely unresponsive, they may want to send a formal written demand for communication and payments via certified mail.

On Thursday, July 12 my contractor stopped communicating with me.