On top of that, if the property is being used as an STR, most lenders will want to verify that you have experience owning managing short term rentals.

It is full of practical advice on how to manage rentals and it will show you exactly what laws you need to follow. 

@Bruce Lynn, while I am guessing because I don't know "most" large multifamily, I would say it is very much manager dependent and likely to become more common place as many syndicators are struggling to make their mortgage payments.Ownership companies are still run by people, and people that don't have enough money to pay their bills will start prioritizing who to pay based on the perceived risks of not paying.As for taking over any outstanding bills, that is one of many issues of the common LLC transfer.  

I would invest in ETF's all day over investing out of state without a property manager and on properties that need rehab.

I’m looking for a property manager that I can pay as needed.

Managing the rehab if it’s fix and flip.

In MA that is now commonplace to waive inspections which is mind-boggling in some of these older homes but it's working for buyers.I'd never advocate completely waiving on the buy side, just too risky for my blood but on the sell side its like Christmas morning to see a waived inspection.

Some would be used to create my own deals, but on a scale that professional management can be utilized.

How do you keep the management straightened out to execute your cash out strategy?

Just finished my major in Business Management and am receiving my Management and Supervision certificate this summer.I've been studying real estate for a few years now, have watched tons of videos, calculated and ran numbers on numerous properties and listings, and talked with many lenders and real estate agents, but because I don't have anyone in my circle that's well-experienced in REI's I've hesitated to pull the trigger on anything.I'm looking to fix and flip, BRRR, LTR, MTR, STR, or multi-family.