State: CA Property: DuplexLease Agreement: 12-months Hey Jose, I’m a local broker and manage over 100 investment properties.

Can anyone weigh in on how to find a responsible, affordable property manager for my first property?

You can decide how to split it, typically 50/50 for you guys.

I assume I'll need to place a Guesty or Vacasa on top as the actual property manager.

I own a fractional interest in over 2,500 units today, and I don't have to hassle with tenants or lenders or inspectors or insurance or contractors or property managers.

In the end it is your business and you have to decide how to run it.

Business with family is less than ideal but we decided to give it a shot.

I currently use a Texas series LLC for my TX houses, and I use a FL LLC for my Florida houses; I also have an S-Corp which manages the two LLCs.

Work to manage the asset (even if you hire a property manager).Here's a quick example.

I recommend reading the following article all the way through to the case studies to decide whether an Umbrella or an LLC will give you the protection you're seeking:  https://www.apartments.com/ren...Hope this helps...