If your not familiar with that term it basically means a condo that is run like a hotel with their own onsite property management.My fiance and I are actually closing on one in a couple of weeks to use as an STR and here is some advice that I can give you:- If the complex allows you to use outside property management I would recommend it because onsite management is generally at least 40% off of your gross revenue- Self management is a great option from what I've read once you have the right process, procedures, people in place.

This isn't my standard operating procedure though. 

What's your procedure if the don't maintain them properly & you end up with stained granite countertops - complete replacement with tenant security deposit? 

There are going to be three levels of addressing this 1) things you can simply go there and do anytime (pick up pet waste and throw it away) 2) things you can do given proper notice (enter the unit and inspect, repair damage etc) and 3) things you can only do given proper process/procedure (notice to vacate, increase rent etc.)

This is the procedure: have a meeting of the minds, and then they send the check to the closing agent for closing.

This is the procedure: have a meeting of the minds, and then they send the check to the closing agent for closing.

Simply document everything you do and create your own Standard Operating Procedures (SOPs).

For contract workers (as opposed to W2 employees), this rule does not have clear procedures and is widely ignored.

The eviction process can be expensive if you pay a lawyer, but you can save yourself a lot of money getting familiar with the process, the necessary documents and procedures to file.

With full authority, the seller does not have to go through court confirmation procedures.