Are you accounting for everything—taxes, property management, maintenance, insurance, reserves—and still hitting your target returns?

For liability purposes our financial advisor is recommending creating a LLC for managing all of the STR stuff.

Let's talk,DanIve actually been looking into buying a condo myself as an investment, I have a few rules, needs to be with both good hoa management & relatively cheap fee (bellow $600 a month) needs to be in area where I’m not competing against other new construction apartments, needs to be an area where even townhomes are so expensive you are not competing, I.e. upper nw, nova, Bethesda etc. needs to be 1990’s or newer in most cases.

At this time I manage and renovate majority of all my units to keep cost low but most likely not the best use of my time although I'm skilled at it.

Hi Cecil,We're based in Redding as well and operate Authority Property Management.

@Michael Baum how many Short-term rentals do you manage this way where you are on call all the time?

Rank them from best to worst in management cost*4.

My top recommendation is to begin by contacting property management companies in each target area.

You likely don't have the net worth, proper LLC management or proper separation of personal interests to make this an effective approach. there numerous BP threads you can search to get more insights. tldr - keep under personal name and get a good umbrella plan. 

You’ll need to treat it like a business—handling tenant management, accounting, legal compliance, property maintenance, and more.That said, when done correctly, it’s a powerful tool for building wealth!