, clear laminated instructions inside the unit, etc.Also very important to consider scale--if you are planning to have several STR's in the same area, then it's wise for you to invest time now to build your team there and manage the place without a co-host.

Do you manage your property yourself?

I tracked it and heard from the property manager they may take $1.3mil, but they didn't even flinch at $1.2mil cash, and we got it done. 

Does anyone have a realtor/property manager recommendations.

Umbrella insurance provides substantial liability protection at a lower cost and avoids the administrative complexities of managing an LLC.

If the property is close enough, you can also forego the property management and handle it yourself in the short term. 

Tracking can be done in property management software, a spreadsheet, or even a piece of paper and a pencil, as long as you can account for who's money is in the account.

I, like you, am a managing partner of a holding company, but unlike you, we are heavy into the real estate space.

that we’ve learned in our 24 years, managing almost 700 doors across the Metro Detroit area, including almost 100 S8 leases:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+ (roughly 5% probability of default), zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680 (around 10% probability of default), some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.

Hello, I'm in the process of purchasing a single-tenant commercial building, and I'm looking for recommendations on property management software.