I'd be seeking someone to fund the down payment of the deal and I would be responsible for property management/bringing in funds for initial renovations for a profit/split.

Self managed HOAs are usually undercapitalized so you want to take a thorough review of the condition of the community to make sure there isn’t deferred maintenance because you might get hit with a special assessment if the board isn’t setting aside cash for those capital improvements.At face value, taking into consideration my typical financial objectives, I wouldn’t do this deal unless it was a much lower price.

I joined with the intent to surround myself with others in the field and build my confidence and understanding of the subject matter (:I live a disciplined lifestyle when managing my expenses and living below my means.

Hopefully we will be managing a handful of other STRs in the same market in the future.

Networking with Canadians who’ve invested in the U.S. and finding good local agents or property managers will also help a lot.

For my POH park I have a hourly PT maintenance manager who keeps our rentals in shape. 

It’s a little more work to set up, but if you get a solid property manager, it’s not as scary as it sounds.If I were you, I’d keep digging into the Capitol region, NJ, and CT—compare the numbers, and maybe even start building connections with agents or wholesalers in those areas.

A VA can help you compile lists of potential wholesalers, manage follow-ups, and even track responses from your marketing efforts—freeing you up to focus on high-level strategy and deal analysis.Hope these ideas help!

Working with Real Estate ProfessionalsLocal Real Estate Agent: Choose an agent experienced in student housing.Property Management Services: Consider hiring a property manager if you’re not local.Inspection and Appraisal: Conduct thorough due diligence to avoid costly repairs.6.

Property managers can be great sources for deals.3.