@Chris Kay to learn to properly DIY manage you have two basic options:1) Trial & fire on your own, hopefully not making a major mistake that costs you tens of thousands of dollars.- Once your time is more impotant to you then the cost of a PMC, you can hire one.2) Hire a PMC to guide you on your first rental and learn from their expertise.- You can buy additional properties and DIY manage those, perhaps leaning on the PMC for any issues you're not sure how to handle on your own.Good luck:)

The hard and the fun part is training my team there in the proper processes from planting all the way through selling.  

The specialist I recommend you have is an attorney to properly draft the documents and a title company to facilitate the deal.

I would buy a house all day every day based on good returns and the proper STR "community" before I cared about the "brand" per say.

They instead lack the skill to do a proper bid.

So, proper screening is EXTREMELY important!

: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.

I do have one question - I have a partner and we are looking into getting a properly together.

Quote from @NA L Harrison: It is irresponsible of you to take in animals you can't properly house.

You might find that installing a mini-split system, properly insulating, and ensuring the finishes match the main home’s quality will make a difference in how the appraiser views it.