Hey Chad - my office manager deals with this but we are not big fans of Airbnb.

The tax deferral from a cost segregation study is a very powerful and strategic tool to utilize in a wealth management plan for your estate.Enhancement of Property ValueReal estate property that has had a cost segregation study performed on it is more appealing to buyers and investors as there is potential for a continuation of tax savings.

Did you find a good property manager in the area? 

@Devanand Ramachandran It sounds like you should hire a local property management company that specializes in the area and property type.  

For long term I have less to manage but at the nightly rate and high occupancy the numbers sound way better.

One thing I did while at college was help manage student properties, and I found it to be quite profitable.

Your landlord sounds like a flake, a self-managing hobby landlord who hasn't realized he shouldn't be self-managing if he can't shut his stupid hole when the chips are down and not make empty threats.

Make sure that you include a reasonable vacancy rate and management fee as your time should not be free in this. 

Don't call a property owner and tout that you have a degree and it qualifies you to manage their property.

I would prefer to buy something local to the Longmont CO area, but there are limited options, so I am open to out of state investing, but concerned about managing it.