I manage 400 rentals and have never had one.

I will be moving this property to my other manager as soon as I can! 

That way you are learning to manage STR in the best way possible.

I immediately notified my landlord's rental management company and a plumber was sent to the property.

I understand that after the second year you can only hold 1 month of the current rent as security, but I am curious how other landlords or property managers in Pennsylvania handle returning the other half?

It is all over the place.Meaning everyone has their own euphoria and depression/recession at the same time.

And to Mike's point, if money can be made, why not do it yourself and self-manage the STR or even hire a professional manager and cut out the middle man arbitrager.

I'm willing to travel to Miami once or twice a year and manage the properties from Spain, hiring a good property manager to address issues, find new tenants, manage payments, and clean the property for new tenants.

STR is not a great option because of the furnishing of the unit and the management.

I work in restaurants operations management and would eventually like to get out of the industry.