Quote from @Jonathan Greene: Never sell a high-performing property with no cap ex and low maintenance to buy another rental.

They don't guarantee their performance and your money is lost if they flee with it. 4.

After minor renovations to enhance its appeal, it has consistently performed well on the short-term rental market, particularly on Airbnb, where it maintains a high 90% occupancy rate.

Make sure you don't chase deals where you can't perform.

I definitely recommend that you seek out a Certified Cost Segregation Professional so that you are confident in the quality of the work performed and the deliverables produced.

I may also charge if one of our people can't perform scheduled maintenance because the tenant has not crated an aggressive dog.

@Eugene Lubman Selling the property to your parents allows them to generate passive income while enabling you to perform a 1031 exchange to defer capital gains taxes.

I always make sure that the draws are commensurate with the amount of work (and specifically the trade) performed to date.

Owners mistakenly ASSUME all PMCs offer the exact SAME SERVICES and PERFORM those services EXACTLY THE SAME WAY, so price is the only differentiator.So, the first question they usually ask a PMC is about fees - instead of asking about services and HOW those services are executed.EXAMPLE: PMC states they will handle tenant screening – what does that specifically mean?

Since you mentioned that there is no sewer or water, they can inform you on septic performance.