A LLC May have prevented the full loss.

Everyone else on your team will be transaction-based and not really involved after a purchase.We're in the Metro Detroit area, so you may want to follow our blog here on BP, but at least read the following posts:How to “Screen a PMC Better than a Tenant”: https://www.biggerpockets.com/member-blogs/3094/91877-how-to-screen-a-pmc-better-than-a-tenant-part-1-services-and-processesIn our experience you will need to:1) Learn to "Maintain to the Neighborhood", not your personal standards2) Tenant-Proof everything you can Hard surface flooring, not carpeting (too easy to trash) Same basic paint for everything No garbage disposals for them to break Only spring-type doorstops also with plate on the wall Glue rubber mats under sinks to prevent water damage Sheet aluminum on walls around stovetops, for easy grease removal Towel racks - screw 1x3 to wall studs, then screw rack to that Install low-profile downspout ext, not aluminum that always disappear Plan on cleaning gutters and leaves up in the fall as tenants won't Avoid garage door openers3) Have a great application screening process: Check credit for evictions & convictions, utility collections Focus on employment/income stability Require bank or debit card statement - you'll be surprised what they spend their money on!

I think there is a large barrier to entry (high capital requirements, credit requirements, experience and time requirements, etc) that is preventing a lot of people from participating in real estate investing.

Any protections you are taking to prevent?

We do about 800-900 work orders a month made up of resident work orders, maint prevention, rental license inspections, section 8 inspections, turnovers, and cleaning. 

It allows me to prevent unexpected issues and extends the life of the furnace. with bulk i got the price down to $73. repairs are a lot more expensive at 2am in January.

There are other areas besides Aurora that allow non-owner occ STR and you could Airbnb the other half of a duplex in, like Wheat Ridge, Centennial, Arvada (existing regs which allow), unincorporated Adams county and Westminster (no current restrictions or regulations allowing/preventing).

📝 Below are specific systems & processes I have used for managing my long term rental portfolio in the Omaha, Nebraska market:Zillow & Apartments.com to list properties for rent & receive applicationsPre screening prospects with a few baseline questions before scheduling showings to weed out non qualified parties & tire kickersApartments.com (previously Cozy) for management platform, receiving rental payments, & accountingInputting expenses for each property each month Separate bank account for holding tenant depositsEscrowing insurance & property taxes in monthly paymentLockbox to allow contractors access during rehabHVAC maintenance contract for service twice a yearGutter cleaning company scheduled once a yearLeave on agreements with utility companies for all propertiesAutomatic late fees applied after rent due dateInforming tenants to email all non emergency repair requests & include images if possibleContacting contractor about a needed repair & having them get in touch with the tenant directly for schedulingPaying contractors promptly and thanking them for their good serviceMailing 2 tenant tip letters a year incorporating visuals for various items such as winter preventative maintenance, what not to flush down the toilet, reminder to clean lint trap from dryer, etc.

Any tenant that will be using covid or anything similar to prevent your access to your property must be avoided AT ALL COSTS.

What’s the best way to prevent those pipes from freezing?