Plus all the labor that went into finding and purchasing the property in the first place.So yes, Spartan made a decent profit on this property - without that margin, we'd only be earning from annual PM fees and the occasional leasing fee, while doing much more than just the work of a PM -  an inefficient business model to say the least. 

I have a form that details the deposits and any deductions that is sent via certified mail to the tenants so that it arrives in 14 business days or occasionally its hand delivered and signed for.What you agreed to in the sale agreement seemed a bit more clouded as I'm not certain clarity was provided, was the rent waived or did you agree to something else.

He just bought a lake side property he wants to set up as an Airbnb and occasionally use himself.I quoted the dedicated policy for this situation called by one of my carriers "Vacation & Short Term Rental Insurance" which seemed expensive I guess. 

It just no longer cleaned the dishes. 

This can prove to be difficult if you're not prepared to dish out those funds when required.

In addition to mortgage, insurance, taxes, and repairs that you would have in a long-term rental, in a vacation home you must pay for utilities year round, gardening/pool cleaner, advertising, supplies (if the towels or sheets get worn out, you must replace; dishes broken, you must replace), deferred maintenance (cannot be deferred long or guests will complain), etc. - Understanding area occupancy rates is key.

Hot water is good for showers and overall sanitation such as cleaning dishes, so immediately.

I know have a huge assessment in the lease for any animal found (or food dish for outside cats) on the property with prior permission.

I've also been looking at Las Vegas for a number of reasons, but mostly the opportunity to find something in the 1% RTV range, and without having to dish out a huge cash outlay for my first property.

He still works for me occasionally but not as a regular person, and I count the tools and make sure the keys are not in his possession.My nephew is a contractor hires mostly guys from Teen Challenge, he's watchful and pretty much knows what's up,, any questions and usually one guy will point the finger to the one that got out of line.So from a person who's been there and done that.