In my market, buyers are looking for about 12% or more in gross rental income relative to purchase price, so if you have a $500K property that's only doing $40K/yr under the current management, don't post rental history (though most buyers will ask for it, so be prepared to explain why it's performing the way it is).Also, network with agents who specialize in STRs. 

Also, for properties of 5 units or more, we need to get a copy of your general commercial liability declarations page.

If it's being valued using comps (since they are 1-4 units) and not using NOI and cap rate like commercial properties, the return might not be there at the exit. 

Even if you create a non-CA LLC, if you are managing the business from California, you will likely be deemed to be "doing business" in California and therefore likely subject to CA taxes.

We've had very good luck with foremost insurance for our owners that we manage for.

I am new to the community.My partner and I are looking at a commercial property to buy in, but after some researchs, we found out the previous owner had some interior renovation done without permits.

I had the property manager to issue notice to tenants to stop flushing down baby wipes!

So, early on, right after college he decided to forgo the usual “management trainee” route and go right to where he could make a lot of money fast - commissioned sales.

@Julian Broyles  I can't speak to phoenix area Property managers but if you need to have a PM manage your rental it is hard to get someone to manage rent by the room properties.

I love it because it's made by real estate investors FOR real estate investors so you get everything you need to manage your property finances and nothing you don't need.