Always good to work with a seasoned rep who is reliable well respected and has aggressively priced products. 

You'll need a reliable network of local professionals (plumbers, electricians, handymen) you can trust.Hiring a Property Manager:Peace of Mind: They handle day-to-day operations, tenant communications, and legal compliance.Local Expertise: They understand the local market trends and rental laws in Colorado Springs.Cost: While there’s a fee, many find it worth the reduction in stress and time commitment.Lessons Learned from ExperienceBuild a Strong Local Team: Even if you manage the property yourself, having a dependable local handyman and a real estate attorney can save you headaches.Leverage Technology: Utilize property management software for rent collection, maintenance requests, and tenant screening.

When I was wholesaling, the hardest thing to do was to find reliable contractors who could get the job done and not leave the house a total mess. 

Tried, tested and reliable. 

If managed well, it can be a reliable way to build cash flow—just do your research on the local demand and regulations.

10% is probably a little steep, and like John said, a flat fee may be more reasonable.Setting up a proper STR is not cheap, but once you are set up properly, you deal with routine breakage.I recommend managing yourself and saving the 20% personally, getting a rockstar cleaning team and a reliable handy person, using something like Hospitable that can help automate messaging when listing, and reading the book from the bookstore here called Short-Term Rental, Long-Term Wealth.

I’d love to hear more about your go-to strategies there.And I couldn’t agree more about LTRs being reliable, especially in a college town like Waco.

The WA state credit union wherehe wanted to establish himself with a checking/savings accountrefused to take him. 800 credit, federal worker, very reliable, butout of state ID.

They probably don’t want to admit the real story to themselves or their investors.My observation is MF values are down 25% to 37% from peak—I have a case study with a reliable value at the moment of peak and a semi-reliable current value estimate—the drop is 37% and this is not a distressed property. 

Here are a few:Pros: -Reliable rent paid every month-Stable tenants that typically stay in the unit for a long time-Purchase prices are typically lower so easier barrier to entryCons:-Getting the files onboarded and processed is very tedious.