Long story short, I put that $25 aside and it managed to pay for itself for the next eight years.

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

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.

@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.

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

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

If you are focusing on cash flow and only looking at deals virtually, you are likely going to get a dawg that looks like a poodle and turns out to be a yappy pomeranian who needs a lot of trips to the groomer.Have you managed apartments before?