I know STR's are tough due to the tourist license's being heavily controlled/shut down in Barcelona.  

Landscaping, Snow Removal, Pest Control to name a few.Hope this helps!

.✅ More Control – You’ll personally handle tenant screening, rent collection, and property upkeep, ensuring everything is done to your standards.✅ Stronger Tenant Relationships – Being involved directly allows you to build rapport with your tenants, which can lead to better communication and longer leases.Cons of Self-Managing❌ Time-Consuming – Dealing with maintenance requests, late-night emergencies, and tenant disputes can quickly become a second job.❌ Legal Risks – Chicago has strict landlord-tenant laws.

Knoxville isn't a luxury market. widen the gap and do new construction. find infill plots of land in better locations and have more control. work closely with a builder who Is working with investors. we have flippers who did hundreds of flips then they graduate to new builds and say it's much easier. if you have the balance sheet you'll be fine. budget 20%. new construction commands a 20% premium and is much easier to duplicate Over and over and much less risk. 

Everything else is controllable and changeable.

The exception being condos where the common heat was not in our control. 

Indirect Expenses✅ Direct Expenses (Easy to Bill Back): Utilities, repairs, maintenance, vendor services (pest control, lawn care, etc.).✅ Indirect Expenses (Office Overhead, Admin, & Labor): Harder to allocate, but common methods include:2) Common Billing Methods🔹 % of Gross Rents – Many PMs charge 3-5% for admin overhead.🔹 Per-Unit Fee – Flat $10-$20 per unit/month for shared costs.🔹 Time Tracking – Track staff hours and bill properties proportionally.🔹 Software Tools – AppFolio, Buildium, Rent Manager allow bulk allocations.3) Best Practices✔ Use a Spreadsheet or Software – Track expenses by property before invoicing owners.✔ Be Transparent – Define billable vs. included costs in your PM agreement.✔ Avoid Surprises – Owners expect clarity on additional charges.

Off-market deals give you control over pricing, terms, and creative financing options.

As mentioned, that is not in your control. 

I understand the two main downsides of condos being monthly fees out of your control and little appreciation.