Material Participation Activities:Property Maintenance: Engage in repairs or construction work on the property to maintain or enhance its condition.Contractor Management: Oversee the hiring and coordination of contractors or handymen for property-related tasks.Tenant Interaction: Communicate with tenants regarding lease agreements, inquiries, or property issues.Property Acquisition: Invest time in property search and evaluation processes, including visits to potential investment properties.Property Management Tasks: Perform activities typically handled by property management companies, such as rent collection or property inspections.Non-Qualifying Activities:Educational Pursuits: Time spent on real estate education or training programs does not count towards material participation.Investor Hours: Hours dedicated to investment analysis, financial planning, or portfolio management are not considered material participation.

In fact, the rule of thumb in the industry is called the 50% Rule: that 50% of the rent will go toward non-mortgage expenses (vacancy rate, repairs, maintenance, insurance, property taxes, management, accounting, etc.).

You absolutely should block Zelle for someone who is being evicted and require they provide certified payments in full. 

The incentives can vary between new lease fees, monthly management fees, maintenance charges, etc. 

To my surprise, they provided a quote for a 23% management fee per month rent, which includes a one-year rent guarantee (regardless of whether tenants pay or not) and a maintenance credit of 2.5k per year.I must admit, I was taken aback by the figure.

Not much capital is required just lots of Hustle. 

I'm looking to purchase my first STR for under $600K and I'd love to find something somewhere where I actually enjoy going for any repairs and maintenance.

It's not just about agreeing on the numbers, you also have to figure out things like: - Financing terms (what rate, duration, amortization schedule)- Balloon payments (sellers typically will require 5yr balloon payment, expectation is you would refinance into conventional financing before then)- Renewal options on above (sometimes sellers can provide another 5 year option to keep seller financing amortization schedule, they can charge a premium for this etc.) - And much more. 

However, aligning that from the beginning will be key to you receiving the relevant information you require to know your portfolio is being managed correctly. 

I have had two different property management companies in San Antonio and they both required to be named as an additional insured or the fees were going to be higher.