These are some of the ways the clients could be affected by property managers who are not prepared: Extended VacanciesInadequate marketing strategies and tenant screening processes can result in prolonged vacancy periods, translating into substantial lost rental income.High tenant turnover due to poor resident relations further exacerbates vacancy losses.Inadequate Maintenance and RepairsNeglecting preventive maintenance and delaying necessary repairs can lead to accelerated property deterioration and higher long-term repair costs.This can also negatively impact tenant satisfaction, contributing to higher turnover rates.Legal and Compliance IssuesLack of knowledge or disregard for landlord-tenant laws and regulations can expose investors to costly legal disputes and penalties.Failure to properly handle security deposits, evictions, or fair housing practices can result in significant financial liabilities.Ineffective Financial ManagementInaccurate budgeting, expense tracking, and financial reporting can lead to uninformed decision-making and missed opportunities for cost savings.Failure to optimize tax strategies and leverage available deductions can further reduce net returns.Diminished Property ValueInadequate maintenance, high vacancy rates, and poor tenant screening can negatively impact a property’s perceived value and appreciation potential.This can significantly affect the long-term return on investment when it comes time to sell the asset.While a 10% management fee may seem reasonable for a well-performing property manager, the cumulative impact of mismanagement can quickly escalate the effective cost to investors, potentially outweighing any perceived savings on the management fee itself.

@Claudio Garcia Zuniga   Assuming this property is in Texas, state law will only allow you to pull 80% loan to value out of your primary home.

Obviously I don't want to cash out refi and start paying a loan and then wait for an opportunity.

Virginia doesn’t have many requirements around a security deposit: doesn’t require an interest bearing account or for me to return interest if it earns any.

https://www.biggerpockets.com/blog/brrrr-loans-what-are-the-...Short-Term Rental Loans: What Are the Options and How Do DSCR Loans Stack Up?

Be realistic about what this will fetch on the market and you may be able to lower your cost of living while building equity through loan paydown and updating cosmetically.  

Hey Malcolm, debt financing shouldn't be an issue; with a DSCR loan, you can borrow within an LLC, and it does not need to exist for a certain period of time.

She moves in mid-June so I collected the Security Deposit and First month's rent ($1200 sd + 800 for the 1br).

Quote from @Daniel Okeefe: It could be a simple typo in the social security number or something else on the app.

I have my STR in Kona, so I'm your competitor.I handle everything, when I bought the condo is not even have permit, so I purchase with LLC DSCR loan, then I apply for the permit, takes a while, everything is so slow in the island.