Vacancy & Risk Management✅ Plan for at least 1-2 months of vacancy per year to avoid financial strain.✅ Understand eviction costs and legal processes in case of tenant issues.5.

In my capacity in property management in the Chattanooga area, I work with quite a few brokerages and am more than happy to give you my perspective!

Our management company currently collects a traditional deposit from all tenants, including traveling healthcare professionals.

I immediately recognized that the listing agent/property manager had the current rent well below market & the asking price massively wrong.

I’ve been in the STR game for 6 years, managing multiple properties, and here are some of the tech tools that have been game-changers for me—both for evaluating and managing properties.   

Since we will be investing remotely, we plan to work with a property management company to oversee day-to-day operations.Does this sound like a solid strategy for a first investment property?

I don't currently have any investment properties, but will likely work with a turn-key property managment in the Memphis/Little Rock area.My goal is to build a good cash-flow portfolio to ease into retirement. 

If you plan to self-manage initially in MI but go full management in Detroit, you’ll want a very dialed-in team.

That means creating a clear budget, forecasting cash flow, and maintaining a detailed financial model that tracks both the current and future performance of your portfolio.Tax Optimization & Risk ManagementBeyond financial clarity, strategic tax planning and risk management are essential to safeguard and grow your real estate investments.

I own a 17 unit apartment building near Minneapolis built in the 60s and wanting to implement wifi camera system and modernize the access panel (wifi managed).Any vendor recommendations?