The SFH is in my wife's name and our permanent residence and the vacation rental are in my name.

I bought my first house when i was 22 and have purchased and sold five more over the past 30 years, mostly residences and 2nd homes.  

Lessons learned:1)Fire a non performing PM early and often ... they NEVER get better.2)Don't buy out of state where you can't verify issues & solutions or easily take control to straighten out a mess if need be.3)Repeated visits for what seems like the same or similar issue are a red flag which should NOT be ignored.4)Use licensed, bonded electricians who pull permits.5)Trust but verify.6)Be careful about who even bids your jobs.

And yes, expect to pay a higher rate than your primary residence.

My ex let our old home and bed and breakfast were foreclosed on during my divorce, if I'd had the knowledge two years ago that I do now, I would have taken them from her and converted to 4-plex and a single family residence that would have cash flowed as well (but that goes in the lessons learned file).

Besides main residences and restaurant/bar/retai­l I've done many investment properties that have been made rentals or sold for profit.

My fortune on my buy and hold doesn't change the fact that I'm now almost done winding down everything else I had acquired in the area leaving me with only my primary residence left in that area.

Yes, welcome to the Bloomington market, hope to see you at our meet ups, alright not sure if you are living in So Cal and managing from afar or now a Bloomington resident.

Hello Bigger Pockets Community,I work for a real estate development company called CC Solutions.

Hello Bigger Pockets Community,I work for a real estate development company called CC Solutions.