Leveraging a property management company can help manage the rentals effectively, especially if you plan to live elsewhere eventually.

Out of area investments do require a trusted team of people that can help with the management.

Looking to see what the best recommendation for a Channel Manager/PMS for running this as a business.

That, in and of itself, is a great idea to live in one side and MTR the other, but you are making your first property more difficult to manage (but easier if you are on site).You don't have to live there, but why wouldn't you want to investigate the market more clearly before making a decision on it.

This can be complex and requires agreement on the valuation and division.Continued Joint Ownership: In some cases, continuing to own the assets jointly and managing them through the LLC may be an option, especially if they are profitable and both parties are willing to maintain a business relationship.

There are also plenty of books on owning and managing rental properties, both LTR and STR and even a new book published by BP on midterm rentals.

I have verified with local management company the availability of tenants.

I am an investor myself here in Columbus OH - started purchasing rentals and grew my portfolio to over 7 figures.

Hi, we manage properties in a partnership and in a couple LLCs.

All, I have formed 2 LLCs: 1) manager managed (parent), called LLC A; 2) member-managed called LLC B.