Because you live on the property, management will be easier.

For liability purposes our financial advisor is recommending creating a LLC for managing all of the STR stuff.

What percentage of gross revenue does an owner typically keep if they do employ a property manager?

Sorry to hear your self managing isn't going as planned...finding good tenants is tricky!

Consider starting with house hacking to reduce housing costs while learning property management, or explore mid-term and short-term rentals for steady or higher income.

When the credit report addresses don't match her application, you deny her and move on.Any landlord running a credit check on her after 05/01/2024 will see her credit report has a $12,000 collection from a property manager, and that should be an automatic denial.

There are also online platforms that will handle managing security deposit compliance, refunds, etc. like rentable.com

After 6 months I have two properties and since day 1 they have been rented.However, making some numbers and organizing the 2025 budget I am not sure what to think about my first step on this journey.The rent covers the mortgages (10 year loan both) however I have to take out of my pocket some % to cover HOA and management fee.

I stared using this site PropJump.com to find services providers for my 3 properties I own and manage. 

that we’ve learned in our 24 years, managing almost 700 doors across the Metro Detroit area, including almost 100 S8 leases.