Note: We do 50+ investment property loans a month and the most important thing I tell BUYERS of properties being sold as or soon to be STR is make sure you are paying the market price per square foot and do NOT buy based on income approach/CAP rate.

We recommend you get management contracts from several PMCs and compare the services they cover and, more importantly, what they each DO NOT cover.

What’s Important to me is understand the tenant pool.

And mercifully, building wealth is a more important goal than the cash flow, to be sure.

Sounds like it makes sense for you to partner, I would suggest: spell out responsibilities very clearly, how you make decisions and most importantly: have a very clearly spelled out exit. 

We recommend you get management contracts from several PMCs and compare the services they cover and, more importantly, what they each DO NOT cover.

Basis is extremely important in these entities and if audited can and will come into question. 

I think what you're really asking is how to identify good value areas where rents may be trending upward but the prices still remain relatively lower.An important metric is tenant household income to rent ratio.

To minimize delays, it is important that you get approval to be a section 8 landlord from each housing authority.

We recommend you get management contracts from several PMCs and compare the services they cover and, more importantly, what they each DO NOT cover.