If you don't you need to learn how to be a landlord real fast, get out of the rental business or turn over the property to a property manager.

I recently saw a post from Anthony Walker asking experienced real estate professionals and those newer to the business about gaining a competitive advantage and it got me thinking about what competitive advantages a real estate private equity firm can attain in their business.

@Terri B.Software for what aspect of your business?

The market is booming in both the business and real estate sectors.

My advice is to form a relationship with a landlord attorney in your state, and in particular, one that is very familiar with property management, to prepare your lease specific to not only your state laws but also how you want to do business.

The main reason businesses fail is because they run out of cash hence having a strong cash position as a business owner is vital. 

I am not defending Bosch in any way, just wondering how you get business if you are not sending out postcards or letters?

I did so because at the time to purchase the property was about half the cost of renting, and there were no STR regulations in Curry County or really beyond..I recognized early that the regulations that quickly developed to restrict my BNB business in Los Angeles were likely to reach other areas and by being ahead of the curve, could own a long term vacation rental, in a land I wanted to be anyway, before there were rules that would prevent that goal. 

Which will bring plenty of other investors and general business to the area.

Any recommendations on a good commercial broker are greatly appreciated.I did some research on Frost Bank and made a branch visit; I have gone ahead and opened a business checking account with them for my SDIRA.