Letting Go for Your Bottom Line: A Lesson for Real Estate InvestorsHey BiggerPockets Community,If you’re a real estate investor, whether you own rental properties, flip houses, or manage syndications, there’s a critical lesson that could boost your bottom line: Letting Go.Many of us get into real estate because we want control over our financial future.

Keep in mind the costs for property management, maintenance, and vacancy rates to ensure you're budgeting appropriately.

Are these forums a good place to connect with managing partners for JVs or syndications?

I don't currently have any investment properties, but will likely work with a turn-key property managment in the Memphis/Little Rock area.My goal is to build a good cash-flow portfolio to ease into retirement. 

First, Are you licensed and insured to manage other people's properties?

I’m in the process of managing 18 units and have a full-time job.

, clear laminated instructions inside the unit, etc.Also very important to consider scale--if you are planning to have several STR's in the same area, then it's wise for you to invest time now to build your team there and manage the place without a co-host.

Unit was rented by some one who was the manager for a about a year and then gave over managing to me.

It's way easier when you have a turnover.My wife could manage this and she's hands off with the tenants. 

that we’ve learned in our 24 years, managing almost 700 doors across the Metro Detroit area, including almost 100 S8 leases:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+ (roughly 5% probability of default), zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680 (around 10% probability of default), some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.