Operated as an executive high-end rental for 2 years and cash flowed nicely while rented.

Hello @Yvonne Wang,The scope of work should include the following:- Basic info: Property address, client name, contractor's contact info, address, license#'s, signed general/operating agreement b/w contractor and client- Specification of repairs: Repair item, Quantity of items needed, total & per unit cost of items, taxes (if applicable), Completion hours, title of the person responsible for the repair item, written summary describing the work- Add'l info: Schedule of repairs, additional payment schedule details i.e. disbursement schedule, method of disbursement, deposits, holdback amounts, etc.The screenshot below highlights a couple of repair items.

I think some min level of regulation benefits everyone, including wholesalers who currently operate in no man's land. 

One thing I always remind people is it does not matter what is on a powerpoint presentation, the deal is dictated by whats in the PPM, operating agreement and subscription agreement. 

There are more passive ways to invest in real estate than "turn-key" real estate and achieve those types of returns, but you will need vet the operators and get educated before jumping in.

I’d love to hear from fellow self-managing landlords about the biggest lessons you’ve learned along the way—whether it’s handling difficult move outs, maintenance strategies, or unique ways to streamline day-to-day operations.

According to the current and official Dressbarnwebsite, “REV” is the owner of Dressbarn: “Dressbarn is an online retailer linked to a former chain of women's clothing stores owned and operated from 1962 until 2019.

This is the kind of thing the bank you keep all your operating funds in should be happy to help you with. 

While it eats into cash flow, it prevents costly mistakes and keeps operations smooth.

With less experienced or just poor planning operators, it isn't uncommon that they spend years distributing all the cash out to the owners, and then the time comes for a multi million dollar refresh to maintain the hotel brand, and no one wants to cough up the money back into the entity.