It is my understanding that the 5 day notice is not sufficient by certified mail if the tenant never signs for it.

Had an issue with trying to self-permit a build a few years back that was an HPR but had an "A" and "B" designation.

For what it's worth, I went through 5 different property managers in 2 different markets (one local, one out of state) over a period of 5 years, before deciding I would self-manage everything across both geographies beginning last year.

Tax-wise, profits are taxed at your ordinary income rate, and frequent flips may subject you to self-employment tax if classified as a dealer by the IRS.

The STR part plays no part in the valuation like @Patricia Andriolo-Bull said.I agree that 20% is pretty fair, but you could self manage it once you get things in order.

I moved all of her old retirement money into a self directed IRA/Solo 401K and started putting her money to work through real estate lends.

First, most investors and owners of real estate related businesses are in one or more of the following situations1- they’re unable to duplicate their expertise that drives the ROI and they are at their personal max capacity as to time2- they’re obtaining high ROI by use of excessive leverage 3 - they’re obtaining high ROI by taking excessive risk4- they hit correct timing in the correct market, and this is not necessarily repeatable with any probabilityIn order for an investment or business to scale, we need the ROI (on a risk adjusted basis) to be sufficient to cover a PREMIUM risk adjusted return to passive investors; all expenses of managing the assets and the business, and a significant return to the “sponsor” providing compensation to him making the work, risk and time worth while. 

A HELOC is a great way for you to self-fund the improvements.

This client was transferred to me by another PM in our company because her portfolio is maxed out and she doesn't have capacity to take on more properties.This client had been self-managing a short-term SFR for the past several years and recently converted it to LTR.

I was also considering the REI expo in February so maybe I'll see you there.You're a self-proclaimed novice but I think many other members of the community would agree that you're well on your way given your potential cashflowing rental and equity.You seem to have a strong position which would allow you to keep growing your portfolio in the next few years.I'd recommend diversifying your RE portfolio the same way you're diversifying with other investments (REITs, Stocks, bonds etc.).