You are essentially handing off the keys to a multi-million dollar asset for the PM to run the day to day operations.When selecting a PM, you need to ensure that your goals are clearly outlined and aligned with the PM. 

This layout helps illustrate to the newbies exactly what is necessary and when to do it (order).It is a typical outline of an experienced investor's process.

Then we go through and build up an actual scope of work that outlines down to the . of what is to be done with the funds.

Now, first thing first, you should outline what you think you could better on the second deal based on what you learned from the first deal so that you stay on budget and time. 

Here are several important factors to keep in mind if the program lapses:•New business policies for which application and premium payment dates are on or after January 20, 2018, may not be issued•Endorsements to increase coverage on existing policies for which effective and premium payment dates are on or after January 20, 2018, will be not be processed•Renewal policies with effective dates of January 20, 2018, and later, for which renewal offers were issued prior to the lapse in authority, for which premium payment has not been received within the 30 day grace period will not be processed•Renewal offers for policies with renewal effective dates of January 20, 2018, and later that have not already been sent as part of standard the renewal processing schedule will not be sent until Congress has reauthorized the program•Renewals with effective dates that fall during the lapse period which have already been sent as part of the standard renewal processing schedule and for which premium payment is received by The Hartford before the end of the 30 day grace period will be processed and remain in force•Policies in force as of 11:59 pm January 19, 2018, will remain in force, and claims for covered losses under those policies will be processed and paid as normal•Existing policies may be canceled per the insured’s request during this lapse period in accordance with valid NFIP cancellation reasons as outlined in the Flood Insurance ManualThere is a silver lining here and that is that there is a strong and growing private flood market.

Account Closed If the seller has a restriction on selling the property within 90 days of ownership it should be clearly outlined in the seller addendum you signed.

Account Closed,Get with your attorney and see there are any legal options - perhaps misrepresentation, or some other other options outlined in the local standard contracts, in addition to complaints filed with the professional commissions, etc.If you saw it once in "showing" condition, and later saw it a shambles, the seller should bear some responsibility for their own fault.

Account Closed - real estate books are great for planting the initial seed and outlining steps and strategies but you'll always feel like you don't know enough... that you need to read one more book or learn one more strategy. 

I also recommend outlining in writing what commissions the broker wants from your personal real estate transactions before you start, or if they do not wish to profit from your personal business.

It's not a tried and true air b&b market, but the areas I outlined above have proven to be successful rental markets fo families who just need affordable rent!