Hello experts,I hope this message finds everyone well.

Must know local market well, and be familiar with local ordinances. 

I do vacation rental because right now the market supports them very well and they are turning good cash-flow.

The overall rehab looks great on the downstairs rooms and it's staged well.

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.

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.

I've done this with my properties because I'm well known in my small town and don't want people to know what I own.LEGAL PROTECTION: By placing your assets in an LLC, you are legally separating them from your personal assets.

I would certainly take the $80k to reinvest comparing to sitting on the equity over 30 years, but for the sake of my head not exploding with inflated numbers in the future, I wanted to only argue what it would look like to not touch the debt on the property as well. 

Think contractors, landlords, etc. possibly even finding some form of part time job with a contractor or property management company is also a good way to get hands on learning and property management can pay fairly well once you get systems down

I hope that your next deal goes well for you!