So now I have both my personal residence and a leased property as STRs.Even though I live 3 hours away from my leased STR property, I've built a team that assists with managing it, so I don't have to be there all the time.Here are some key things I've learned:Regulations: Research the specific STR regulations in the state and city where you're looking to buy.

We talked about an aggressive paydown at a rate of $5k for the next 6 months to make the deal sweeter for the next person, but renting it would be preferable to that I believe since I can get a higher return on smaller development projects at a burn rate like that. 

3) Can I rent to my son and also treat him as the property manager? 

If your trying to redeploy your capital,  do you think that you can get more than 8.5% through other projects and could you do that more than once during that 4.5 years? 

Managing remotely works until it doesn't.

If you're willing and able, I do recommend the "house hacking" strategy which is just a fancy name for buying a rental property and living in one of the units, because you'll get very favorable financing - an owner-occupied fixed-rate 30-year mortgage.I'd also say, analyze that property as if you won't live there and it's a pure rental, and make sure the property is still cash flow positive if there's a tenant in your unit because then you'll know if it's actually a good investment.And when you analyze it, include payment of a property manager in your #s because if you don't, and doing so would make it go cash flow negative, then you've just bought yourself a job because you literally can't step away from managing it without losing money.

But I could sell partials in the future.Is there software that people use to manage their portfolios? 

I was wondering how people managed to scale their businesses faster.

They will look at the ENTIRE cost of the project and calculate what they can offer you in loan amount.

I was wondering if you found a lender, and if so, how your project is going.