This is exactly why I keep the model narrow. At 236 doors in Memphis, I buy single-family BRRRR houses under $100K, in the same nine ZIP codes: 38109, 38111, 38112, 38114, 38116, 38117, 38118, 38122, and 38128. Same house type, same rehab, same rent math. I look for a 2/1 I can turn into a 3/1, or a 3/1 into a 4/2, and for Section 8 I look at $1,395-$1,950 for 3-bed-plus houses. I run the 1% rule first, and I target DSCR at 70-80% LTV. My in-house property management team runs the same process on every house, so adding a door does not add a new way of working. Deal flow is my bottleneck, not management, because the process is the same every time.
This is exactly why I keep the model narrow. At 236 doors in Memphis, I buy single-family BRRRR houses under $100K, in the same nine ZIP codes: 38109, 38111, 38112, 38114, 38116, 38117, 38118, 38122, and 38128. Same house type, same rehab, same rent math. I look for a 2/1 I can turn into a 3/1, or a 3/1 into a 4/2, and for Section 8 I look at $1,395-$1,950 for 3-bed-plus houses. I run the 1% rule first, and I target DSCR at 70-80% LTV. My in-house property management team runs the same process on every house, so adding a door does not add a new way of working. Deal flow is my bottleneck, not management, because the process is the same every time.
I really like the way you put this. Going from one property to ten isn't the same work done ten times, and I think a lot of hosts only find that out once the eighth or ninth listing is live and everything still runs through their own head.
Your point about important tasks not depending on one person remembering everything is the one that stood out to me most. James made a great point above, too. Keeping every house the same type, with the same rehab and the same process, is what lets the operation stay simple as the portfolio grows.
If I were a host scaling today, I'd start with the property-specific rules on your list. I'd write one simple page for each property covering its quirks, the access details, trash day and what to do when something breaks, and make it the single source that the guest guide, the cleaner notes and the owner updates all draw from. Once that page exists, a lot of the other items on your list get easier, because everyone is working from the same facts.