There is still a risk: You do not have the right outprice and lose money, your deal goes south due to unfound things when you bought it, then the rehab phase brings them up, and you spend more, and the market changes, which is something that can happen on a moment's notice.

A well written management contract should clearly spell out what is expected of both the PMC and the owner, to PROTECT both and avoid misunderstandings.

Consider structuring your investment through an LLC for liability protection and tax flexibility.This post does not create a CPA-Client relationship.

Also, take as many pictures as possible before the tenant moves in, again this protects you in case of damage caused by tenant. 

A well written management contract should clearly spell out what is expected of both the PMC and the owner, to PROTECT both and avoid misunderstandings.

Many skip tracing companies have a minimum count or spend.

The big thing is always focus on protecting the public, disclose, and take care of people.

Whether they have personal property protection, and how much, should be left up them.

Spend the $25,000 on a deal not a consultant.

Do you have tips for structuring short-term leases that protect me as a landlord while accommodating their needs?