@Johnery LaurimoreRecommend exploring as many sources as possible to get referrals AND cross-reference them to get as much accurate information as possible.Check out NARPM.com, BP’s Property Manager Finder, etc.Also, encourage you to learn from the mistakes of others - by reading posts here on BiggerPockets about owners not having their expectations met by their current Property Management Company.

To provide some context, she initially approached our company to manage her HOA.

Account Closed is correct, absolutely do both.. especially if youre just starting out even Grant Cardone started with a SFR. but for the sake of his question lets say you have 100k saved up for a real estate endeavor TOTAL, and you find a SFR that fits the 1% ratio (100k house that brings in 1k rent) that is doable if you calculate it out that would equal a 8.2% cash on cash IF it stays at a 90% occupancy rate. on the other hand if you invest that 100k into a limited partnership with a company that invests in value add apartments will now your cash on cash can be a preferred 10% with a target of 16-20% IRR which would essentially double your money in 2-5 years.. in this scenario the SFR would take sweat equity from you and risk while only returning a measly 8% CoC while the MF would be completely passive allowing you to learn and grow without hindrance with a 10% CoCnow we are over simplifying but I hope this made sense.. cuz my brain hurts ;D

We recently had a unique offer from an elderly care company to rent our home to operate their business out of.

HAve you had any good experience with any company?

I have a separate company, Tax ID and account set up for my short term rental company.

Insurance has been a big issue in our market this year as companies have jacked rates out of control. 

Looking to hire a property management company to manage my duplex, which I have been managing since 2018.

I think that is important in case she tries to bring on legal recourse.

When companies or properties are not self sustaining, you would initiate an "owner contribution" to cover any expense the business/rental property could not cover.