.- The whole process is simplified—no co-ownership legal headaches.I’m curious about the pros and cons of something like this.

It’s an area filled with short-term rental properties owned by a mix of out-of-town hosts and locals, but I know the advice here can apply to hosts and managers across the country!

It had 22 of the 25 lots occupied but we'll be fixing it up, filling it up, billing back water and raising rent up to market.

@Divya Sarin Are you still in the property search process? 

That's the opportunity.I also recommend engaging an 'investment focused' realtor (not the general residential ones) to guide you through the process and provide you with market intelligence. 

I said, well I have had to have my fingerprints done multiple times, had to send in affidavits of who I am, fill out a fincen report for my company so I think you already have plenty of information on me already...

. :)We definitely want to invest in true vacation rentals as well but this will be a good learning process with not as much risk to start.  

I am a broker in the area and I'd be happy to help you through the process.

Your screening is limited to ONLY what RentRedi thinks should be part of the screening process, and rent payments...well, you will be reported to the IRS for the fees RentRedi charges..and RentRedi will not give you their W9 to write those off as an expense.

The tenant has proof that the rent payment went through successfully and was processed.