Short term rentals do get more money, but also cost more to run and require more time.  

That can be a draw back if the market is on a mad run up tho.Also, I would always have enough in a heloc to cover your 401k loan in the event of job loss or if you quit your job. 

I run into properties with 300-400% ROI on a regular basis.   

I'm open to deals that need rehab but I'd rather find something that's up and running and that may only need minor fixes or rent increases.Do you have any property like what I'm looking for?

the market is unforgiving right now.https://www.biggerpockets.com/forums/963/topics/1195280-expe...https://www.biggerpockets.com/forums/48/topics/1160450-run-i...https://www.biggerpockets.com/forums/48/topics/1137397-balti...https://www.biggerpockets.com/forums/52/topics/1010977-12-00...

Hi David Oh-You asked about a profit sharing bonus for property managers to give them an ownership mindset and incentivize them to align with your goals for quality property management.I love this idea.While I do not have a formal profit sharing plan, I always like to recognize the property management company with gift cards to the operators and the people within the property management company I have regular contact with that help keep the property running well and keeping costs down.Related to this, a handwritten thank you card to the same people periodically goes a long way.I also like to do the same for the tenants that have been paying rent on time.To your success!

The first misconception is that you can declare a property headed onto the market only S8 eligible, refusing to consider traditional applicants.

However, I am unsure on how to go about finding the proper handyman/maintenance guy/management team to help run any out-of-state investments I make.

That way you and the owner are in agreement and you have been green-lighted to go ahead and run your business. 

Start running numbers on potential deals to get more comfortable, and build out your team—like a CPA, property manager, and lenders.