I am getting ready to close on a property in the couple weeks.

Is the market saturated?

Also the majority of those costs to covnert to a 2nd unit will need to be capitalized and depreciated, but some things (new appliances, flooring, paint, kitchen cabinets) can be shorter year assets vs. across the full 27.5 and IF it turns out that unit is > 50% you can use bonus as well on those items.

Real estate laws are local to the state where the property is located.

Quote from @Bryan Stengel: Hi Tariq, the STR markets are very saturate especially in the prime areas. 

I couldn't even make it thru the full complaint, it was so compelling after a short time into it, it's just "wow". 

Then the PM handles any changes with the tenant.

BiggerPockets is full of resources designed to help you along your journey, whether you are just getting started or a seasoned investor.

Hi Everyone, If I only have tenant's birthday, driver license number, and phone number, can I still have a collection agency to help me to collect the delinquent rent?

good company I have used them in the Sacramento CA market as they are SF based or were when i did my deal with them..