I've been investing in real estate with my wife since 2017, when we started with JV deals and small flips.

Is it more because of a borrower not qualifying traditionally, property not qualifying, or they can get a better deal going private?

Quote from @Zachary Deal: You still have a month but I do think MTRs in markets with a lot of competition can be a bit harder to get bookings on before you have reviews.

It was more to have another cool place to vacation and let it pay for itself and appreciate.I never plan on selling either property.If I see a great deal on a beach house that will be next.

Id love some input on starting my own property management business to generate cash for more deals.

Hey @Teekap Pate - Many condo deals in that area of Chicago get killed by the outrageous HOA fees. 

Any additional tips or corrections would be greatly appreciated.Example:If the PM sends an owner statement showing:Gross Rent Collected: $3,000Property Management Fee: $300Miscellaneous Expenses: $200Net Rent (Amount Deposited): $2,500In QBO, I would:Record an income entry of $2,500 for net rent.Separately, record any additional expenses paid directly, such as:Mortgage: $1,200Insurance: $100Property Taxes: $150Summary:Property Accounting: Handled by the PM company and detailed in the monthly owner statements.Corporate Accounting: Recorded in QBO, focusing on net rent income (after PM deductions) and any additional expenses incurred.Please let me know if this approach is correct and if you have any suggestions or adjustments to ensure compliance and accuracy in my accounting processes.Thanks for your guidance!

Ideally there would be a number for tenants to call, they would take the calls and deal with them.

What made you interested in investing in this type of deal?

The 3 states I work primarily in already require buyer agency agreements by state law. 50% of our deals are off market, so our commissions already got written into our offers as a standard operating procedure.So virtually no changes for me.