Understand the fees involved and calculate the total cost for an entire year of management so you can compare the different managers.

Sounds like I'm late to the party.

I am also involved in management at one of the largest STR property management firms in Cashiers.

Make sure to verify any information from a party that doesn't have any advantage of you getting their services before making a decision.  

The requirement for a notary to oversee the property transaction further safeguards the investment process, providing both parties with legal protection.4.

If you enjoy direct involvement and have time to manage, self-management can work.

Best part is that unlike the old UPREIT that triggered a tax if the initial property is sold, today’s structure is immune.

The problem now is that if you're looking to do a cash out re-fi (e.g. as part of a BRRRR strategy involving the development of ADU's), there typically are no comps for an SFR + ADU + JADU, so an appraiser makes adjustments to SFR comps and gives very little value to the ADU's. 

There is so much MORE work involved as opposed to buying a fixer-upper and rehabbing that!

.: I would never give the party on the opposite end of the transaction POA over the property, or my social, DOB etc.