We manage about 40+ STRs and 10+ MTRs in Indianapolis.

Although we don't specialize in buy/flip/sell, we do manage over 1K rentals here in the Central Indy market. 

Property Owner>>How can you manage that billing?

A lot of mistakes can be made if you do not talk to the right people and use preventive maintenance to avoid problems.Multifamily rentals are a great way to use the more doors more cash flow method.

In a “nutshell”What can work - partnerships where each person brings a different necessary asset (knowledge, experience, time, capital, credit) to the table, the responsibilities, rewards, and expectations are clearly spelled out, legal documents are created to head off disagreements, and the parties are compatible.What doesn’t work - partnerships formed by two or more inexperienced people looking for “comfort” rather than going it alone, and anything other than the above. 

I think it's kind of funny that people always talk about doing your own due diligence as I thought that was pretty assumed with any investment, but I guess there are some people who may buy blindly like they do with stocks or whatever.

Review their management agreement.

With the current market, I will not be able to make my required cash flow after paying all operating cost including mortgage, vacancy, property tax, insurances, maintenance cost, no need for a property manager because I can manage it.

It seems like you want to build, then refi out to perm.I really like the new build, no cap ex, much easier to manage, and you have a new asset for the foreseeable future. 

Deals done with people I met at meetings4.