So to make STR work out of state for me that would require a property manager.

How will the fractional ownership be managed?

Does the property cash flow at the rate before a buy down? 

Setting clear expectations upfront with a detailed lease agreement is a must.Consider Property Management: If managing the property starts feeling overwhelming, consider hiring a property management company, even if just for the rented units.

One "bargain" cost me $30,000 in hidden repairs - don't repeat my mistakes.Build your team early: a realtor, inspector, contractor, accountant, and maybe a property manager.

There are lots of people operating illegally and you can find them advertising properties illegally all over the BP Marketplace. 

If so you should be looking for purchasing subject to properties with LOW interest loans, not high interest loans 4.

I manage around 400 rentals with 14 years of experience and have never been sued once.

Get rid of this tenant and stop the bleeding.P.S. the money you are losing each year is more than you would pay for a professional property manager.

I just want to give a huge thank you to @Colleen Goldstein for helping us buy our first rental property!