the deal works really good on paper , its not in a bad area its actually in a decent little community with a k-5 across the street and all that. neighbors are cool too . just met them yesterdayPretty much all systems are go , the wife is on board, the price is right , otherwise a great deal but these weird things the guy that built it chose to do..

I’m thinking my split on a 20% fee of owner’s STR rental income would be 75% + a finder’s fee for new clients of $1000 or 1% of first year’s 20% rental fee (whichever is greater) + 90% of the $1500 listing setup fee which covers all the work of creating the listing, coordinating the photography, on-boarding to channel management and dynamic pricing software + referral fees on rental properties that go to list.

I encourage you to get involved, ask questions, be open to feedback, and allow other seasoned investors to help guide you along your journey of Real Estate Investing.I'd also check out local REIA meetings, this can be a great place to get to know other investors in your area and network with people.One other recommendation... do a JV with a seasoned investor so you can jump in the passenger seat to see how it's done first hand.

I may have even had them on board from the start depending on how difficult the process appeared to be initially.

I am definitely on board with you or anyone for that matter to fully disclose the risks of OOS investing.

If you live in a state with highly specialized or locality rules - NY, OH, NH, it is worth either considering local, or at least firm that has on board expertise within your jurisdiction.  75% of the time when I work with a NH investor that was previously working with an out of state accountant...they've made errors (in some cases costly ones) on the NH business tax returns. 

While some investors are ready to get on board, others take the time to watch and evaluate the investment potential.

One other thought - avoid PMs that ask for an on-boarding fee.

i'd do a lease addendum adding the new roomie, for the 3 existing tenants to sign, and have the new tenant also sign a new lease packet. you want to be sure they're on board with all the terms of the lease that the others agreed to. :)

However something has to give with so much supply coming on board over the next 12-24 months.