Best practice is to operate as an MTR and backfill with STR guests because if you open up your calendar to STR guests without tight restrictions, you're an STR.  

If that works for you, it works for me fine, but seems odd.

I know in California it is legal and the state acknowledges it however it does restrict the finder to basically introducing the parties and they can not participate in negotiations, etc.

We obviously handle the ones near us in-house, but hiring someone in another market to work one day a month is a bit of an odd task.My guess is that remote property management companies need to have a sort of Swiss-army-knife person in the area that can do many variable tasks for them and works on an hourly basis as there may not always be things to do, but I don't know that for a fact.How do remote/long-distance property management companies overcome the challenges of not being in the area?

Real estate activities are typically considered passive activities, and the IRS restricts passive losses to offsetting only passive income.

Invasion of privacy, unclean and rude house members, maybe if they do drugs or smoke or are party animals, unwanted friends of theirs visiting at odd hours, clashes of personality

It's the odd ones out that probably got a great deal on a property and immediately jumped into just getting good-great cash flow.I would say look at your dollars ($), do the math, make sure your sites are set on not going over your funds ($), make sure the location you are looking at has your criteria and find a property that fits.

Of course, with all things, the answers to all these matters will depend on the circumstances.California tends to have more laws on the books and requirements and restrictions that it can be a good idea to form a CA LLC for out of state property so that you as a CA resident are covered, and to try to have your contracts fall under the purview of CA courts.

Of course, with all things, the answers to all these matters will depend on the circumstances.California tends to have more laws on the books and requirements and restrictions that it can be a good idea to form a CA LLC for out of state property so that you as a CA resident are covered, and to try to have your contracts fall under the purview of CA courts.

Yea we are expecting someone to sue for restricting property owners rights.