If you’re going to spend $40-$45k in down payment, closing costs and a reserve, spend the $1k and meet the team and see the product!

Then the majority of the rest of the income should go to your company because you have really created the ongoing value that drives revenue to the property.The exception can be when and owner or developer has painstaking developed an incredible product they are entrusting you with where you don't have to do any of the initial set up and can more easily take the reins on ongoing operations of the property.The best property managers are picky and often turn away lots of owners because they understand they have a brand to protect and because they know they bring a lot of value to the real estate owners or developers.My goal as developer and investor in this niche now is to create an incredible product to hand off to professional high end manager that knows how to be host to guests and is hospitality focused.

Naturally, I was hoping to dedicate less money and FAR less time to this.

I work in finance for an ivy league university and it's honestly second nature.

Lubbock is also highly diversified being the hub for the area from Amarillo to Midland, Hobbs to Sweetwater for agriculture production and research (cotton, peanuts, sorghum, wheat, watermelons, and wine grape vineyards -70-80% of TX wine grape production comes from this area-), medical care and research (two top-tier facilities in Covenant and the university hospital), manufacturing, transport (major airport), and of course Texas Tech is a huge economic driver employing many thousands and bringing tons of students in with their parents money (30k+ enrollment I believe, it's enormous).

The natural stone is actually QUARTZITE, not quartz.

@Marco Chaidez loving the final product!

@Genny LiThanks Genny, I will go to Home Depot to check out these products, do you think it's a simple DIY project or should I take the help of a professional?

In the long run you wont really be thinking of the few hundred lost here or there, you're building equity and can refi into a conventional product soon enough!

Haven't gotten final figures from our electrician in the cost but I have always been interested in off the grid type products.