Now if you can handle all that, there is some great places to invest down there. just be prepared for all of the above. 

Just a thought because I know a handle of owners that attend that have 30-50 units a piece. 

Now that Interac has introduced auto-deposit, it is simple to manage on our end.We also use RentMoola.com (NFI) to handle PADs - more simply that than our bank - or to provide tenants with additional payment options.

To be honest, it gets hectic no matter how hard you try to systematize things, but we do our best to manage things that come up and figure out a way to handle the situation in a more time effective manner the next time it comes up.Some of the infrastructure pieces we have in place that help us a lot are as follows:Background check software.

(If not - then it's a major mess, best left for professionals to untangle.)Under this scenario, here is how you should have handled the sale:From the sale proceeds, reimburse each other for your respective contributions to the closing costs.Whatever is left - split 50/50.For taxes, each of you will report half of the sales proceeds, adjusted for the combined closing costs.If you can go back and do it this way - your economic parity will be intact, and so will be your tax reporting.

But right now I’m seeing a lot of properties that are back on the market or  price reduced; all good stuff for me! 

We still need to live somewhere so this section also shows those costs and how that would reduce the value of our investment over time.

Is it too rare to have taxes reduced?

One partner would be doing more of the reno side and the other would be handling more of the business/management of the property as a active vacation rental.   

How would you handle the transition of VRBO rentals being managed by the seller?