It's been great - the property is 100% paid off and the house is worth 300-340k generating approx $2300/mo (that's after utilities/management fees etc.)I'm considering selling the property to buy 3 more within the same price range in the same market. 

My wife is a realtor and my sons are MLO's and we started a lending company last year :)We do STR's mostly personally with our own properties and self manage all of them.

By then, you have a cash flow that can support hiring a bookkeeper.I recommend staying away from companies that outsource bookkeeping overseas.

Need to watch out for utilities like water meter, electrical, gas, and sewer.

My company offers real estate syndications.

Security Deposit: 2600Lease states no smoking/painting walls/no hanging things on wallsTenants have moved out and have left two truck loads of garbage to be removed.Damaged doorPainted walls which got on the ceiling and trim Lots of holes on the walls throughout the houseDamage from windows being left open constantly Weed was clearly smoked in the house (smell throughout the place) so we need to deep cleanWater bill wasn't paid so I had to turn back on utilityMissing keyQuoted costs:$450 junk removal (some furniture)$935 for damaged doors/windows, painting cleaning$30 for utility turn onTenants were only there for a year before moving out so a lot of this is beyond normal wear and tear. 

If you have a strong management company here in AZ, that is key. 

We can close on $50,000 to $50M (note a company doing multimillion dollar deals is not doing $50k deals)

Better if the company has a lot of info in writing that you can absorb to minimize this.

Banks and mortgage companies are getting wise and they are recognizing the threat that Pace Morby is to them.