Common fees will include a set-up fee, leasing fee for each turnover or a lease renewal fee, marking up maintenance, retaining late fees, and more.

I am trying to make sure I have a solid budget setup for next year.

It’s easy to set up and easy for me to transfer right away into my main checking account.

We got it all set up and it's even in an area (Boulder County) where could STR it if we wanted to, and the very first tenant ended up signing a 12 month lease at the same rate we were going to charge as an STR.

@Michael NevensHave you spoken to an accountant and/or attorney in the US yet to make sure you are setup correctly prior to investing?

Luckily structural/engineering reports came back great and inspections didnt call out anything significant.The numbers:Bought the home off market and paid my real estate friend to set up all the contractual information and represent me. 

If you set up the automation and systems you mentioned above, AND get your boots on the ground team of a housekeeper and a handy-person, you will have no problem managing completely remotely. 

Do we have to setup a partnership/LLC together with him to allow this to happen, or can it be done another way?

Common fees will include a set-up fee, leasing fee for each turnover or a lease renewal fee, marking up maintenance, retaining late fees, and more.

We used a HELOC from our primary residence that we set up to start our investing journey.