I’ve also managed units where on our renewal rate we did reduce the rent from the prior year, but for other reasons, such as the prior year of the tenant having a washer and dryer, and a major plumbing issue with the building, preventing us from offering it the following year so we did a reduction.

It takes a little more calendar management but can be very worth it if it's allowed in your area.

Condo HOAs can have personalities to manage but can keep the property in better condition and can cover some expenses. 

that we’ve learned in our 24 years, managing almost 700 doors across the Metro Detroit area, including almost 100 S8 leases.

that we’ve learned in our 24 years, managing almost 700 doors across the Metro Detroit area, including almost 100 S8 leases.

Property Management: Tips for managing your vacation rental remotely and ensuring a seamless guest experience.Pricing Strategies: Maximizing rental income while remaining competitive in the market.  

(There is an agreement in place between the 'Owner' LLC and the 'Management' LLC.)  

Or a property manager

I self-managed up to 25 units (over half mid-term rentals) until I hired someone for 10 hours per week to help me with the admin side of self-managing.

So to manage expectations I'd say you should expect to be patient to find the right deal.