Do you have extensive experience with them?

Yesterday morning he said we should have the final terms by end of day. 

What type of terms they looking for?

What insurance are you all using for furnished medium term (30 days and more) private room rentals?

The opportunity for outsized profits versus LTR always exists, because it requires much more work in terms of marketing, maintenence, cleaning.

A squatter is not on your lease or subject to its terms.

If you sell a property in one year or less after owning it, the short-term capital gains is taxed as ordinary income, which could be as high as 37 percent.

I grew up in Memphis where I own 4 long-term rentals that are SFHs.

Assess if you have enough time for tasks like tenant screening and maintenance.Expertise: Professional managers know landlord-tenant laws and property maintenance best practices.Cost vs. benefit: Weigh management fees against potential savings and efficiencies professionals might offer.Property location: Distance from your home to the property matters.Number of units: More properties increase management complexity.Stress tolerance: Consider your comfort level with tenant interactions and problem-solving.Long-term goals: Professional management can free you to focus on expanding your real estate portfolio.

In the next part, we'll talk more about how to get along with sellers and negotiate, looking at how powerful good communication and using relationships to get good terms can be.