If you decide not to manage, then the managment fees are usually 20% of the income. 

Now one of those owners is listing their home and we have $100k+ of future reservations on the books that would amount to probably around $20,000+ in cancelation penalties.I think Airbnb/VRBO really need to come out with an official and very public policy about how this affects PM's, otherwise it seems like they could be quietly making an entire industry that they rely on (property management) unfeasible, because as managers the properties are under our account, but we don't fully control them.And that's just the fines. 

Quote from @Will Dyer: While living abroad for several years, I contracted with a large vacation rental management company to manage my rental property.

Quote from @Will Dyer: While living abroad for several years, I contracted with a large vacation rental management company to manage my rental property.

If you can come in and operate effectively I think you'll find success rather quickly due to that.BTW - for a property management platform I would highly recommend Buildium.

What are you biggest lessons managing rentals out of state with a property manager? 

Quote from @Justin Dalton: Good morning , Everyone Hope your week this far has been productive and bright.Looking over some property in Memphis Tn (out of state investment).

In 2020 I started a short-term rental property management company that I got to nearly 100 units in 6-months before I realized I absolutely hated property management and here's how I did it.I know you probably don't want to hear this but cold calling.Call property owners in the area and ask what they think of their current property management company.

The key to starting is identifying a property that offers solid cash flow potential in a stable market, and securing financing that fits your situation—whether that’s a conventional loan or an FHA loan if you plan to owner-occupy.It’s common to hesitate due to fear of making mistakes, but the reality is that practical experience is invaluable.

Can it integrate with your bookkeeping software (like QuickBooks or a property management tool)?