Make sure your tax person is leveraging every advantage for you in terms of depreciation schedules on furniture, maximizing your involvement as an "active RE investor", etc, etc.Finally, as you build your team of PM, cleaner, handyman, etc. make sure you retain a fair amount of control.

My point is that STRs could be profitable enough to easily justify PM fees and therefore be a more passive RE investment option.Just another thing to consider.Just to complete the picture on the units we use a PM, our 3rd unit with a professional PM is OOS (Alabama). 

With the investor loan, you will be limited to 2% in most cases.For a cleaner qualifying situation, don't try to close them at the same time. 

Either way, congratulations on the purchase and for taking the risk in the first place but you need to get a safer more conventional property loan in my professional opinion to give you better chances in keeping this property especially if you have a long term rental income plan for it. 

Find a professional.

I'll have to bookmark this page to get back to a few of the professionals here when I need help on our multifamily acquisitions in Texas this year.I don't have any referrals in the space you're looking for but in general, when searching, you can also just punch in "YOUR CITY or AREA" plus "ATTORNEY" into the search window above and check out a few bios and people's past endorsements to zero in on someone that fits your ticket.

Talk to a professional before moving forward with this strategy. 

I enjoy meeting real estate investors and learning more about their interests and professionals goals.Vedran

Otherwise, savvy "professional tenants" will wait until you file a dispossessory suit on them, and then make a tiny token payment.

I'm looking for a cleaner to help with turnovers who prices fairly AND is insured and can provide proof of insurance... having issues finding someone that fits both of those categories.