I also agree with No. 2, and I've seen some of my STR clients welcomed by their neighbors after taking over a ramshackle place that wasn't cared for.

@Patricia Smith Even if someone give you a referral, what meets their expectations, may not meet yours.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!

Are there other more creative ways to start cash flowing in year one Be careful because federal mortgage fraud and going to jail is a real thing.

You have to understand that these people don't care about anything, and the government people are overworked and will not follow up with all the small cases. 

She would be putting all the cash down for the property and I'm a contractor and would take care of all of the rehab work along with finding the house, dealing with real estate agent etc. how can we make it so that it would be 50-50 ownership of the property and all future profit? 

Higher-quality areas attract tenants who are more reliable and tend to take better care of the property.

Either payout wasn’t right , horrible tenant selections ( I started requiring them to bring me the cream of the crop and I decide)  I tried 2  different pMs.

Now the situation has occurred that we need to rent the house out in order to help pay for his long term care expenses. 

If you don't care about income and are more of a capital gain kind of guy, prices are already high (as you noticed) and there's plenty of land available to buy so I'm not sure how much is left in the tank.

It is a legal form that allows you to select what criteria they did not meet on the application and what background software we use.