While I do believe that some of the posters on BP are able to do a quality job self managing their portfolio of STR properties, they are spending a lot more time doing it than they’d like to admit.10 years ago in many markets STR provided outsized returns.  

I have done BRRRRs in Milwaukee for a decade+ and if I am not on the job 2-3 times a week, things go sub-optimal.

I work full time at a decent job, but have quickly learned that I needed to make some changes in my families life by securing our financial future. 

No offense, but hire a PMC because:1) You hate the process of placing tenants.2) You didn't do a very good job of screening the current ones.Sometimes we have to get out of our own way to find success!

The next one was also a corporate cash buyer and after our second call, the acquisition manager confessed to me that he just got the job and asked me if I could train him on how to evaluate a deal!!!

Some of them even walk off the job, even after they pull permits and are technically responsible for the work.  

But really you’re just creating a second job for yourself and one that doesn’t pay very well if it even is cash flow positive at all 😆I used to buy houses for STR but now that I’ve got several STRs up and running that I bought many years ago, I stopped buying STR once mortgage rates went up and housing prices went up.

Could be the tenant is not using the service, doing something to attract roaches or the exterminator isn't doing their job.

Also, co-living situations or top performing short-term rentals can produce a pretty high cash on cash return but again they are pretty active with a high turnover of tenants and guests unless you find someone else to manage them and then you are usually paying a good portion of the profits to the manager.But let's say that you have a job and are not interested in fixing and flipping or a high turnover type of investment and you would rather be a more passive investor.

The loan does need to be secured by the property being improved if we are talking about a personal residence and personal itemized deductions on Schedule A.