From an operational standpoint you might also want to consider the cost of any extra tax returns that are needed by the entity as well as any extra accounting fees.Good Luck!

I looked into the maintenance option years back to discover a trend of:  apx. 8% monthly fee which only included rent collection (everything else from maintenance to turnovers etc, extra, and poor reputation on repairs.)

They don’t charge anything for these extra accounts, my tenants pay directly into those accounts.

As an example, we decided to replace the windows in a house we were renovating and ended up costing us $50,000 extra because we got into issues with permitting and suddenly found ourselves having to hire an architect, speciality contractors, etc.  

It may sound nice to pay a 6% management fee but the extra fees can add up to be more than the other company that charges 10% with no additional fees.

I was drawn to the accessibility of their projects without needing to be a FUND, along with the extra benefits that come from their large-scale output.As an investor, my priorities are finding good deals, investing in landlord-friendly markets, and transitioning to new construction properties.

It may sound nice to pay a 6% management fee but the extra fees can add up to be more than the other company that charges 10% with no additional fees.

Setting up direct bookings is a great way to save on fees, but you’re right—it requires extra effort to ensure everything runs smoothly.For vetting guests, start by asking a few questions when they inquire, like the purpose of their stay, how many people will be there, and if they’ve stayed in short-term rentals before.

That would be a helpful addition to your plan as you would further reduce your cost of living.Also don’t forget from that $600 you are planning on getting in cash flow you have taxes, insurance, maintenance, capex, and vacancy to consider.With two homes, you may want to keep that extra $20k as an emergency fund rather than spending it on a third property and then be left with no emergency funds.

With the extra cash flow, you could strive to acquire additional income-producing properties over time.