I'd try to find a property manager that can help you keep an eye on it and let it appreciate. 

I assume, I will have to open business accounts and use those to manage my business expenses and business earnings etc. 

Partner brings caliptal/down payment (passive involvement) and I do the management (active REPS activity).

For me, it's a great blend of banking, bookkeeping and tenant management software.

Any advice on managing this situation, reducing costs, or navigating the permit process would be greatly appreciated.

The calculation takes more than just Rent and PITI - they consider other expenses like vacancies, management fees, utilities, and more especially for full-doc programs.

Franklin As long as you're looking at things in the long-term, screening your tenants thoroughly, staying engaged as the property management, and are diligent about increasing rents the maximum every year, you should be fine.

We manage in Calypso Cay and frequently go unrented under $100 a night despite all of the amenities.

All money would stay in the company for repairs, management, buying new properties, and paying taxes if necessary.

I’m looking to buy my first rental property soon and I’m not sure if I should get a hands on self managed property in Denver metro or a more affordable market out of state.