On long-term rentals the bank likes to see signed leases which clearly you can't have with STR. 

I agree that working with people is easier and more cost effective than the alternative.As I read this, I'm considering creating a Cash For Keys written program that I can give my tenants at lease signing to remind them to come to me rather than just stop paying. 

Think of vehicles like the cyber truck where you need to sign up ahead of time to pre-order and so many people want it that the value increases shortly after they are released.

If not, then you really need a strong legal structure stating how these properties will be governed going forward, including management, tenant selection, capital expenses, etc.

Then they won't need an upfront payment for work they haven't provided yet.Also, get a signed contract, copy of the drivers license, contractor's license and be added to their liability insurance.

.- Do be open-minded though as we have many of the above from tenants who claim we illegally evicted them (so, somehow we got a signed Write illegally?)

One piece of advice I never forgot is to never ever sign anything without a copy and without a lawyer looking at it first.

To avoid going through the same poor experience, keep reading.Even if someone gives you a referral here, do NOT make the mistake of assuming that the PMC will meet your expectations, just because they met the expectations of the referral source.In our experience, the #1 mistake owners make when selecting a Property Management Company (PMC) is ASSUMING instead of CONFIRMING.It's often a case of not doing enough research, as they don't know what they don't know!

In this option your agent would either get paid from you directly in your closing costs OR from the seller via seller concessions.like Russell said, if you are comfortable with the transaction and understand what you are signing and you don't need things explained and you have connections with inspections and title companies then go for it.

Usually, this is a sign of stability and a preview of the types of people who live in the area.