If the items left behind are valuable like cell phone charges, bluetooth speakers etc, I go out of my way to get them returned.Only once has a guest decided they didn't want their shirt, jacket, charger, speaker, makeup bag, backpack, Switch controller etc back.This is the kind of good customer service that gets you the 5 star reviews.

@Bruce Woodruff I was definitely looking into moving but my parents wouldn’t want to move out of state.

Almost 20 years ago, my wife and I were parents of three young kids.

I really want to turn those properties into Airbnb listings due to promising ROI and no HOA restrictions … The biggest challenge for me is to hire someone on the ground to set it up and coordinate with vendors, for example running errands to pick up the keys from my agent, purchase / receive / assembly furniture, installing smart lock so I can have full control over my property remotely..

Using your example, is it reasonable to  earn 20% of the controllable gross paid, in this case, $541, or $108?

We were able to get it for a great price, clean it all up, have pest control get rid of the roaches, and repair all the damages myself for only a few grand. 

It that is the issue you may need to look at other alternatives.IF it is just timing, maybe they will be ok with it as timing would take longer now to start over.Example:  I listed my parents 2 rental properties after my mom passed away. 

Some little 10 person office might control billions of real estate.

And, as you continue to buy more properties and form more entities to segregate your assets, you may decide to form a parent holding company to reduce tax preparation fees, ease administration, and add an additional layer of asset protection between your properties and you personally (shown as HoldCo, LLC in the sample organizational chart).As for which form of entity to use, it can be state specific, so you should seek advice from an attorney practicing in your state.

Side note: Rochester, NY is considering (heavily) rent control.