Water Utility - 44 years ago when I was a relatively new real estate broker, a gentleman contacted me to see if we could help sell a small water utility he created.

I am an affiliate tied to my my small YouTube channel but it’s not STR related.  

We are going to have a property manager and projected cash flow is good.   

Also, do you happen to know of any property management companies in our area that specialize in mid-term rentals?

Caveat being that rehab costs would be extremely high relative to ARV.

2) Would you hire a management company?

My business partner and I have spent the last 15 years fine tuning our property management business for single-family and small multi family investors.

This creates two loan payments ($100,000 of equity and $300,000 on the new mortgage).Key NumbersHome Equity Loan Interest Rate: 6%Mortgage Interest Rate: 7%Rental Income: $3,000 per monthExpenses (management, taxes, insurance, maintenance): $800 per monthIncome and ExpensesMonthly Rental Income: $3,000Monthly Expenses: $800Monthly Mortgage Payment: $2,000ExplanationThe investor earns $3,000 in rent each month.They pay $2,000 on the investment property mortgage and $800 on other expenses.This leaves $200 profit each month or $2,400 per year.However, you have to pay $6,000 interest on the equity borrowed.This leaves you with an annual loss of $3,600.This example shows that while the rental property generates positive monthly income, the interest cost of borrowing the initial $100,000 results in an overall annual loss.

You could hire a project manager  and source your own subs  . 

If you went through that many property management companies you probably owned a slum property.