I specialize in investors & also self manage my own portfolio of rentals and it does really well, this experience helps me connect you to the absolute best property manager in Memphis since I know how its done.

If you do decide to raise the rents considerably I would suggest staggering it so that you hopefully only end up with one vacancy/renovation at a time.

We were very successful with these rentals and decided to expand in 2017.How did you find this deal and how did you negotiate it?

I recommend working with Elite Property Management owned by @Kyle Tom.

Is anyone using a good inventory management system to track supplies in your STR?  

This way, you get to spread out those capital gains taxes over time, making your tax bill way more manageable.

Brokers look like commodities but if you find one that works with out of state investors for the long term, they will have good references for place to to invest, property managers, construction crews etc...

We’ve owned a multifamily house in Rochester, NY since 2013 and have been managing it ourselves.

By providing this a quality product with managed expectations and professional management oversite, this property continues to cash flow well and consistently.

I live in CA, and am paying a local property management company to manage tenants and repairs.