Lastly, there will be no management fees!

For example it is my understanding that Big Bear allows it but whoever is managing the property has to live within 1 hour of the property. 

I’m also curious about the pros and cons of managing short-term rentals versus long-term tenants, especially for clients who are new to real estate.I’d love to hear from those of you who’ve been down this path before.

My manager is largely responsible for that. 

In addition I heard that is better having one LLC for each property and one for management only.

I am invested in a small multi family in TX and the management was not able to fill the property and do repairs and the income has dwindled badly.

that we’ve learned in our 24 years, managing almost 700 doors across the Metro Detroit area, including almost 100 S8 leases:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+ (roughly 5% probability of default), zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680 (around 10% probability of default), some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.

He usually buys in C neighborhoods and has to do heavy rehab, but he's a construction guy that also runs his own property management company, so it's 2nd nature for him.

@Bri Hall I am A managing partner at a company that facilitates full-scale flipping, lending, development and portfolio acquisition amongst other things.

Lastly, if you want cash flow so you can quit your job then you might want to consider strategies like flipping, Airbnb, property management, and being a real estate agent.