Hi Dock,First thing you do is find a great property manager to guide you & partner with. 

Anyone here manage STR for out of town owners in the Tallahassee area? 

Customers book and manage everything online and we use a property manager for Q&A and handsfree management.

Lastly, I would try and manage yourself if the coa takes care of everything outside, this will allow you a cushion in case something goes wrong.

People who say JV is bad do  not know how to structure  it and manage it and the exit strategy..

I am not too sure on how to coordinate and properly manage a fix and flip project in a different state which is why I have joined this group to learn more about out of state fix/flips and see if it's a plausible option for me.

Here are some steps to help you get started:Educate yourself: Learn as much as you can about real estate investing, including market analysis, property valuation, financing, and property management.

It is now 6/21/24 and I am still going back and forth with my property management about the security deposit and repairs.

Hello Jared Schott, regarding your situation, here are some considerations and options for managing the $280,000 gap: Second Mortgage: You can seek a second mortgage or home equity loan to cover the $280,000.

you will not want to take documents from anyone on line and will want an attorney to create docs for you which would range from $5-$10k.Regarding management fees, 1-2% is what those fees typically, are so even at $1M you are taking $10-$20k/yr in management fees, which probably does not get you super excited, but thats where they typically are.