Basically 75% of the total rents need to cover all the bills.

If the software is not simplifying your life or making you more accurate, you shouldn't use it.Software does have extremely helpful features like online payments, marketing syndication (click a button, and your property is advertised on multiple sites), electronic document review/signing, maintenance tracking, and owner reports.

Here's a breakdown of the situation:Current Occupancy: 80% (16/20 units occupied).Current Gross Rent Roll: $14,265/month.Market Rent Potential: $17,665/month (100% occupancy).Renovation Needs: 15 units require full renovation ($10K/unit), 4 units are 75% renovated ($2.5K/unit), totaling $160K in renovation costs.Vacancy Loss: $41,820/year in lost income due to current vacancies.Cap Rate AnalysisThe seller lists the cap rate as 9.59%, but this is based on the projected NOI of $119,858 (assuming full occupancy and market rents).

And while yes, no one has the same pricing (combination of factors), I also continue to check on a regular basis our rankings and how we "present" on total costs per stay vs. our competitors.My gut says there is price creep and we might have a ways to go before the market really corrects.

They cover the counties with online access to public records (over 2200 counties). 

Of course, I totally understand that you wouldn't want to do if that guide is written by another real estate agency, in which case you have option 2.b.

I’ve spent less than 150k total out of pocket investing in RE in the last 9 years and have been buying “base hits” in Dallas and Arkansas and now have 29 SFR.

This owner found a free lease template online that provided very little landlord protections. 

@Yooni Choi Self-managing out-of-state properties is totally doable with the right systems in place.

If they are available online or in person.