So I live in CA and the laws and regulation here can be crazy.

I understand the business model, but I would like to see the thought process of someone actively running a Short term rental.

Have you considered house hacking the 4 plex and living in the vacant unit?

@James Wise from Holton-Wise Property Group has a TV show on his website labeled "Tenants from Hell" and I believe they are mostly Section 8 tenants.

lots more to learn so please send your tips/tricks/masterminds etc my way! 

Back in the day we carried a balance of $100,000+ that was owed to us and that is now down to only $10,000 or so and we only cover out of pocket if it's an emergency.The PM must have sufficient reserves to do the necessary maintenance work and shouldn't be chasing landlords for money.Just my opinion...Also, a PM's number 1 profit center is maintenance up charge.Landlords don't have much insight and PM's nickel and dime to death on those.If you are suspicious, ask for a receipt so they aren't making up non existent maintenance.Let them make their money tho and calculate that into your expense pro-forma.Otherwise, manage yourself and deal with the $#%^@ that comes with it lol.Multifamily in Ohio, you can get for $25,000 - $35,000 a unit.Drop another $5,000 - $10,000 into the turns and rents should be North of $800pm.Decent area's also.Personally, I wouldn't get out of bed unless I'm making the above numbers.Wishing you much success

When starting out, I think you should at least be able to get to your property several times within the first couple of years to en reasonable amousure everything is set up and functioning properly.

Having lived in "the valley" for some time, my family and I have been looking into purchasing a few rentals in the Conway/Bartlett area.

Most of my bookings come from Vrbo, a few from Airbnb.

I'm currently looking at using a company and they charge $2000 month for managing the campaign plus a ad spend for 4 properties.