It's not an easy trek, but if you are absolutely committed and have access to some significant finances to invest, then it is achievable.

Many of them make big promises, then provide very little actionable advice.Second, what you are hearing about is referred to as "arbitrage" where you rent a property as a long-term rental for a set price, then you furnish it and try to rent it on AirBnB for a profit.

The wholesaler has been in escrow for 3 months before me, and then I was in escrow for 2 months waiting to close.

Then, go ahead and bid on a property.

It does require some kind of power, but if you have A/C and heat then it works off of the one that is not currently pulling power.

If it was an investment property then some would consider it but it would still require 15-25% down payment - as some lenders will do 85% of purchase + 100% renovation but no more than 70-75% ARV.

Hey @Mike Allen, I use the Schlage Encode Smart Wifi Deadbolts at my STR - one for the front porch door into the property (it's a duplex), a second for the main entry door into the upstairs unit itself, and then one on the supply closet in the unit for our cleaning team.I don't have any third party management software in place at the moment, and therefore can't speak to the integrations at this point in time.  

If you are renting it to family for under market value and tired of paying, then sell it. 

Based just on your DSCR calculations, it appears this property is significantly under-performing, or if it is operating well, then it is significantly over-priced.If your plan is to reposition the property, then you need a bridge loan or private loan to acquire and manage the property. 

You do not need to have a license to manage an apartment community.Property management can then be broken down into "annual" property management (normally a unit without furniture), a seasonal rental management (such as 2 weeks to several months up to 6 months) and then vacation rentals (sometimes for the weekend, a week, etc..).Each state has its different rules and licensing for each area of property management (annual, seasonal and vacation) as well as the different areas of management (association, apartment and property).I hope that helps.My understanding is that if you are an EMPLOYEE of the property owner you do not need to have a license; if you provide property management services as your management co owned business or as an independent contractor, then you do need a license.