To avoid going through the same poor experience, keep reading.Even if someone gives you a referral here, do NOT make the mistake of assuming that the PMC will meet your expectations, just because they met the expectations of the referral source.In our experience, the #1 mistake owners make when selecting a Property Management Company (PMC) is ASSUMING instead of CONFIRMING.It's often a case of not doing enough research, as they don't know what they don't know!

I can keep giving suggestions, but it's hard to educate you on every little facet of the process to avoid getting stuck with a scammer.

That way, if you find a deal like this, you can keep your cash capital-gains-free? 

Prioritizing transparency helps build stronger, more resilient relationships with investors.How do you keep your investors informed?

If you're a salesperson your ICA, Independent Contractor Agreement with your broker will detail whether you have to charge yourself or not.Also keep in mind, regardless of payment to yourself, the legal requirements remain the same.

That is a very saturated market for STR so I do think it makes sense that 1/3 is underperforming, but based on taking a loss now, I would probably stay tight and keep going because you have the set up in the area.

Good luck, and keep moving forward.

Stay Informed: Keep yourself updated on the latest developments in the fintech industry, including regulatory changes and security best practices.

Just like you would do with any non-family contractor working for you:- get them to complete Form W9 for you, as you will need their SSNs- have them provide receipts for materials/supplies and keep those receipts- have a written labor agreement (how much and for what) - pay for materials separately from labor- make all payments electronically rather than cash so you can trace them- pay out of your business account, not personal- issue them 1099s next year if you paid them $600 or more for labor (for the whole year, not per job): https://www.biggerpockets.com/forums/51/topics/1167632-expla... 

So the goal would be for the property to be transferred to a new owner while keeping in tact the same mortgage.