PM will give you a great baseline of practical skills for real estate investing i.e. handling leases, landlord tenant law, utility structures, maintenance, improvements, maximizing property value, keeping books, marketing, conflict management, working with contractors and vendors and a whole host of other skills and knowledge.

Or how would you handle it?

Mario Bellavia I think Airbnb option is a great idea as long as you are within a short distance that can handle the property management.

They'd like me to handle it. 

If you want to spray down with enzyme odor reducer, it can't hurt and is cheap enough to do yourself. 

Here is the code: "At the mutual inspection, a comprehensive listing of ascertainable physical damage, along with a repair cost estimate for each item, should be reduced to writing and signed by both parties.

The issue is that if they technically meet our criteria, how do I handle the other prospective tenants, particularly those who are showing as much interest as they had (and have already given us an application fee, which we've not yet processed credit checks for), and those who responded to my listing saying they were eager for the open house?

Like many others, this book has completely changed how I handle my income and spending.

Remember, if you informally make it an inlaw (no permits) and you get a notice of violation (example, a neighbor or disgruntled tenant can easily turn you in) then you are really screwed: the city will force you to legalize that unit, and you won’t be able to just ditch it, or merge it into the main house (some political issue of reducing housing units.)

There are also a number of ways to structure an LLC to reduce the single-owner liability protection issues.