Sec. 1.469-5T(f)(2)(ii)) – such hours include: studying and reviewing financial statements, searching for new properties, education, preparing summaries of the finances or operations, or managing the finances of an activity in a nonmanagerial capacity.Keep in mind that REPS can include a real estate agent and tasks that count can be different than a real estate investor....

I posted an article under general property management yesterday about using virtual assistants.

Our efficient project management ensured the renovations were completed on time and within budget.

I feel like Vancouver is a nice size - big enough to find quality property management and trades, but small enough to be a little less urban.If this is an area you'd like to live in the future it may make a lot of sense.I might suggest a three bedroom, but will be interesting to see what others think. 

I recommend you read some books about how to manage properties well, use a strong contract, know that contract inside/out, know your state law inside/out, build policies and procedures to catch and stop problems quickly, know how to screen and select good applicants, etc.An ounce of prevention is worth a pound of cure.

It will be self managed, I will be near the unit (less than 5 mins away) to clean and take care of any issues.My numbers:Approx Value of Home $240-280kCurrent monthly cost / $860 mo (mortg,ins,tax)Utilities / $250. mo (elec,gas,water,trash,internet)Cost to run as AirbnbApprox monthly cost with STR insurance ($250/mo?)

Our efficient project management ensured the renovations were completed on time and within budget.

Here is our experience:  There is considerable potential to manage a yield-bearing asset, but as @Alice V. mentioned, insurance costs have soared, to $1,250 per door.  

Although no major renovations were needed, our effective negotiation and rapid transaction management significantly increased the property's market value.

Try interviewing at least three managers.1.