Ensure your finances are under control, completely.

There is no way that resident can afford a 500 jump, and I ended up losing thousands of dollars.Real estate is a business, collecting a future stream of revenue, and you need to be in control of the revenue and expensesGino

These are long term, illiquid investments that are completely out of your control.  

But in the event if for whatever reason such buyer can not be located, then he will be in a good place taking control over the property that is known to have higher value than what he pays for it.

Perhaps hire the PM as a second set of eyes for quality control but that should be in addition to the GC you should hire from day one. 

This allows me to control the end result, while keeping the project moving.

It’s also a great way to leverage your investment for future projects.If you’re planning to continue with more BRRR projects, consider refining your vendor selection process to increase efficiency and cost control, and ensure your financing is set up to maximize your next deals.If you need any advice on financing strategies for future deals or optimizing STR income, I’d be happy to help!

The state doesn’t have rent control laws, but landlords are prohibited from collecting more than one month’s rent for security deposits.

4) How to control maintenance costs.

You may lose access to the bookings they have managed, as those reservations are often under Evolve’s control, and they may manage the communication, payments, and cancellations for those guests.Transferring Bookings: Some companies might allow you to transfer the bookings if you switch to managing the property independently or through another service.