You'll need a reliable network of local professionals (plumbers, electricians, handymen) you can trust.Hiring a Property Manager:Peace of Mind: They handle day-to-day operations, tenant communications, and legal compliance.Local Expertise: They understand the local market trends and rental laws in Colorado Springs.Cost: While there’s a fee, many find it worth the reduction in stress and time commitment.Lessons Learned from ExperienceBuild a Strong Local Team: Even if you manage the property yourself, having a dependable local handyman and a real estate attorney can save you headaches.Leverage Technology: Utilize property management software for rent collection, maintenance requests, and tenant screening.

I travel to the market spend a few days with them want to meet their crews and their family etc..

If you believe the hype and there are no deals and you need to go big, then your actions will mirror your beliefs.If you think you can close a 6 unit, then you eventually close it, and then move on to a larger deal.Be prepared for the opportunities that are about to hit the market!

Do you think this storm will cause prices to finally decline in the once red hot short-term rental market in Florida?

For context, (1) the property was in poor condition when I acquired it, and (2) I’m a passive real estate investor.Here are my expenses:- Travel (~$2,000) and meals during travel ($500)—I understand only 50% of meal costs are deductible.- Gardening maintenance (just to prevent the grass from getting too high, not an improvement).- In-year tax consultation ($300).- Commission to my buyer’s agent ($300).- Insurance premium ($1,000).- Insurance deductible following a claim ($1,000).I believe the property won’t begin to depreciate until it’s in service, which seems to align with how TurboTax is set up.

This will demonstrate to lenders that you have a clear plan and an understanding of the market.2.

The appraised value is exactly what I estimated, as well as the market rent and expenses.

@Collin Stoffelcan it tell me the condition of the sewer line?

Research affordable markets, real estate investment groups, and neighboring areas for better rental markets.Good luck!

In Madison, and I assume your market, we have always had discount broker options to basically just get your listing on the MLS and not much else as well as sellers just exposing it to the market themselves off the MLS and hoping to maybe pay no buyer agent commission, where the buyers have no agent they are working with or the buyer agrees to pay their agent directly.