Managing other contractors, scheduling with them and the tenants, making sure they are on time, doing a good quality job, takes a lot of time, and having a good team to manage that is crucial.

Passive Activity Loss RulesIf you are a real estate investor that doesn’t qualify for REPS status (discussed in #5 below), understanding the Passive Activity Loss rules is crucial.

If they are VERY professional, they will have their processes in writing as verification that policies are enforced equally and fairly by their entire staff.6.

Remember, not all money is created equal.

I still don't like the ADU idea unless you plan on buying half of his property overall so it's all equal.

That kind of balance is crucial, and it sounds like you've got a solid foundation for success.Looking forward to hearing more about your journey and exchanging ideas here on BiggerPockets.

More demand equals less TI, rent abatement, or other LL concessions to provide when a vacancy does occur, so select accordingly.

Even in areas without significant disaster risk, we're still seeing insurance costs rise due to broader industry pressures.The Long-Term ViewFor those of us deeply involved in multifamily syndications, it’s crucial to educate LPs and partners about these changes.

@John Pettas  Not all PM are created equal. 

Below are a few things I look for in a vacation rental cleaner:1) Hot Tub Maintenance: Since many of my properties include hot tubs, it's essential that my cleaners are experienced in testing water quality and adding the appropriate chemicals as needed. 2) Clear Communication: Real-time communication is crucial for me.