Most of these issues can be prevented up front by tightening the PM agreement: clear spending & authority limits, required insurance and warranty standards, and rules around who can perform work go a long way to keeping your opex under control.

What if your contractor fails to perform and you fire them (or anything else that prevents the contractor from being able to finish the effort)?  

Studying the management side the right wayI’m currently reading Brandon Turners “The Book on Managing Rental Properties” and really taking the systems seriously.My plan: Use Brandon’s forms as a baseline Customize them for North Carolina landlord-tenant laws Potentially have an attorney review the lease package before implementing it (if you're an attorney reading this, I need some help with my forms please)Trying to build solid systems early instead of winging it.For those who’ve inherited older, long-term tenants:What’s your preferred approach for adjusting rent in a respectful, trust-preserving way?

Regular updates and open lines of communication can prevent issues from escalating.By setting up a structured system and fostering strong local relationships, you can effectively manage your out-of-state investment while ensuring it remains a profitable venture.

We try to educate our clients to stabilize/renovate the properties up front to prevent the money drain year after year on high maintenance.  

This keeps the conversation objective and prevents you from negotiating based on their expectations instead of actual market value.

The goal is to identify the risks specific to your situation and proactively put systems in place to prevent those issues from occurring in the first place.I've posted extensively on this subject, feel free to review some of my older forum posts. 

It is so much easier to plan all the possible scenarios, choose the best path forward, and then implement it in a way that gets the desired results.Rather than trying to recover from an oppps, after the fact.Saving on taxes speeds up the next BRRRR.

Here are a few brainstorming ideas:Outdoor LivingMust have potential for high-impact features like fire pits, hot tubs, dining areas, or outdoor games to significantly boost appeal.Views & ProximityProperties with desirable views or close proximity to water, nature, or main attractions offer an enhanced guest experience.Premium Interior FeaturesPotential for dedicated game rooms, high-speed Wi-Fi, or comfortable dedicated workspaces to cater to diverse guest needs.Easy ParkingAdequate and convenient parking for the expected guest group size is critical for convenience and securing 5-star reviews.Garage to Game Room ConversionIf driveway parking is plentiful, converting a garage into a functional game room or extra living space offers amazing added value.Noise & Light AbatementEnsuring quiet enjoyment of the property through noise reduction measures enhances guest comfort and prevents issues with neighbors.

Acting early prevents the situation from escalating.