I am not subcontracting the management however.The pro:I consolidate all payments and expenses under one entity.I can decide to take a w2 income from it if I need to show income for a future lender and also I can use it to fund a solo 401k.I get all the fringe benefits of a Corp (health plan, vehicle reimbursement, ...)I am expensing all my ancillary cost pre tax.I am separating operation from ownership and get another layer of asset protection.The con:Another entity to manage, another tax return, more feeConvert some passive income to active income.You may need a license for property management in some state (but you may have an exception for owned properties)

That way, when I get rent, I set up an invoice to pay to each month, and if there are expenses, I reimburse myself and keep the receipts in a folder. 

This is not a smooth road at all, people like this, and particularly the attorneys who represent them, should be publicly executed via a street hanging, with opportunity for citizens to watch via pay per view and proceeds going back to reimburse the hardships to the victims, in this case, ME!

.... to which I said "well why don't you just reimburse me then for the 30% commission you took on the multiple personal deals I've already done with ya'll in the last few years ... because I was told it was ONE when I signed on.

Though the insurance company agreed to pay him, they have not yet sent out the reimbursement, and the claim is still open today.The current insurance company can't review the borrower's application because the claim is still open.

So it would be a 12 month interest only bridge loan that would give you a little cash from the existing equity in the home, plus an escrow account that would reimburse you for work that you want to do to the home (assuming the work adds value to the home). 

The process for reimbursement is so easy through Airbnb, and I have been reimbursed for damages each and every time.

I also offered to do some repairs at my cost and submit receipts/photos for reimbursement (house was not very well maintained and I'm handy).

If the Seller needs $100,000, write the contract for $125,000 with an addendum requiring the Seller to reimburse $25,000 to you at closing for repairs.

He said otherwise he would have forgotten about half the things they owned, and wouldn’t have been reimbursed.