With your background in lease management and site selection, that could be a natural next step.Regarding STRs, I can understand the hesitation—accurate expense tracking is critical, and not having that data can make evaluating deals frustrating.

Timing is critical.

Tailor these amounts to the significance of the task; for example:Roofer: $1,000/day (critical to weatherproof the site).Painter or garage door installer: $100–$200/day.Contract Value & Payment Terms:Agreed payment amount (lump sum or itemized costs).Breakdown of payment terms:Deposits.Progress draws.Retainage (if applicable).Scope of Work:Be as detailed as possible.

The later is critical to protect your investment.

This is critical for protecting yourself, your property, and your neighborhood.Here’s why:Safety Concerns:Skipping checks could allow someone with a serious criminal history—like a sex offender or violent felon—into your property.

Keeping contemporaneous records is critical.

We used our own cash we had no private investors.The other critical part was that we negotiated a 3 year wind down if our bank did not renew this was critical in 09 it allowed for a semi organized wind down that most of us in the HML space were doing in 09 to 2011 with all of our defaulted loans..

The buyers had invested a lot into the deal (~$100M) and purchasing the property was critical to complete their development.

Companies like State Farm, Allstate, or Chubb often come up in conversations, but comparing quotes with independent brokers might give you the best value.Since you're in a general partnership, it”s critical to clearly define liability exposure.

they perform a service and are compensated.not trying to be critical, just trying to protect you as you get started.