It should include a few exhibits attached like a scope of work, a blank change order form, a final layout illustration, and a lien waiver (for the final payout) that they sign before starting.

With rent demand being so high, it can be hard to make the numbers work, and it is so easy for property managers to fill units, that there is little justification for taking on the risk of dealing with Airbnb issues.To illustrate, I will give a personal example.

STR without ownership is basically a STR PM job for you.  

It is easier for me because I have basically the opposite of ADHD, but putting everything on Google Calendar and blocking out what you want to do each week usually starts to work wonders if someone sticks to it.

Basically, you ask permission from the mortgage servicer, who then informs the mortgage investor assuming they are good with it.

Note the below bill was proposed, establishing a 5-year moratorium on condo conversions in high population/population density counties (basically Hudson County only).

That basically leaves you with investors and buyers with let's say special circumstances.

You need to take note that the different guidelines are important and you need to follow the different basic guidelines accordingly if you want to take advantage of the 1031 exchange.

I am only familiar with Texas and while there is sometimes limited flexibility it’s basically 100% due at sale.  

I've included an example below to help illustrate this.So different lenders have different rates (which do vary even for DSCR loans) but these are factors they all consider.See example below:DSCR < 1Principal + Interest = $1,700Taxes = $350, Insurance = $100, Association Dues = $50Total PITIA = $2200Rent = $2000DSCR = Rent/PITIA = 2000/2200 = 0.91Since the DSCR is 0.91, we know the expenses are greater than the income of the property.DSCR >1Principal + Interest = $1,500Taxes = $250, Insurance = $100, Association Dues = $25Total PITIA = $1875 Rent = $2300DSCR = Rent/PITIA = 2300/1875 = 1.23If a purchase, you also generally need reserves / savings to show you have 3-6 month payments of PITIA (principal / interest (mortgage payment), property taxes and insurance and HOA (if applicable).