I want to make sure my property is getting managed well and everything is taken care of such that I minimize vacancy and other tenant issues that would add additional cost and headache, but I haven't ever heard about PM fees being this high.

As an out of state investor, I need some local insight.

Any advice or insights would be greatly appreciated!

Your strategy of converting the garage into an additional dwelling unit (ADU) and using the property for short-term rentals (STRs) sounds like it has paid off well, especially given the unique aspects of the property and its location.Your approach to identifying a unique investment opportunity that was overlooked by others, and your patience in securing the right deal, are key takeaways for anyone looking to invest in real estate.

I very much appreciate the connection and your insights.

Additionally, upgrading the finishes can increase the value of the property and make it more competitive in the market.

However, when you sell the home, you will owe 20% of any appreciation on the home in addition to whatever you borrowed.My intention going into this was to house hack for a year or so and then refinance.

Additionally, a higher occupancy often translates to more frequent disputes among tenants.

By renting out the additional units, investors can cover their mortgage and expenses while generating passive income.2.

They may have insights into local nuances or regulations that could affect how payments are accounted for.