Quote from @Irina Badal: I heard for anonymity purpose it’s advisable to set up a personal residence trust.

The nicer areas are already charging a premium so be careful. 

@JC Wu I don't care if work is permitted, I care if it is done right. 

That is an easy way to get a Fair Housing Violation case.Lastly, why do you care who is looking at the property?

Also I understand the funds aren't available for the improvements so that is another obstacle that has me leaning towards price reductions to move on as soon as possible.The exit of lower tier SFH's is something very few investors care to consider when making their investments but deserves far more consideration. 

Investment Info:Single-family residence buy & hold investment.

@Deirdre Lizio like any business, you will encounter customers that:1) Appreciate great service and are willing to pay for it2) Appreciate great service, but are price sensitive3) Only care about the lowest price, yet unrealistically expect great service4) Multiple variations of the above...Unfortunately, the majority of us default to #3:(

As everyone said, 20% is fair for a manager to take care of a STR.

Investment Info:Single-family residence fix & flip investment.

Hi Malcolm, With your strategy of holding multi-family properties or flipping, the key is running the numbers carefully to match your goals.