I immediately took a vacation day from work and went to see the property.Underwriting & Due DiligenceAfter I got the property under contract, I had to learn how to properly do due diligence as I was in the middle of doing it.

However they vacated around June 2nd without giving any notice and wouldnt pay their rent for June.When I contacted my property management company, they wrote me back this -“Since the tenant has already vacated the property, the next step we can take is sending the tenant to collections, which would be a 3rd party collection agency.

I want a final walk through and I want the building in the agreed upon condition with the 2 bedroom unit vacated and move in ready.

I also know a person whose attitude was that, if the needed money, they could sell or borrow on their vacation rentals on the gulf.

My sweet spot is vacation rentals and assessing highest and best performance in various markets, looking at NOI vs CAP, evaluating acquisition, expenses, exit strategy, and modelling for various scenarios with a near infinite number of levers we can tweak to account for any nuance in any variable. 

How do you folks manage your vacation rental properties as well as handle customer communication and interactions when you do not live near the property?

It is a Vacation, after all. :)Overall, however, we find that guest prefer to pay up-front for all of this rather than have to go through the pay/refund cycle or the hassle of 3rd party insurance offered by Airbnb/VRBOHA.

My short term goal is to get my first property under my belt to gain the experience and confidence to one day get my vacation rental in the mountains.

Use a holding agreement with a clause that gives you an out of the current tenant fails to vacate.  

Go on your vacation and de-stress.