"I focus on working directly with property owners by becoming their last tenant — basically combining the role of tenant and property manager into one.

As a property owner buying the product or investor? 

Ask to speak with some of their current owners and current/former tenants.

If you completed your 1031 and put the property in a single-member disregarded LLC, meaning that the LLC has one member and does not file its own tax return.

Since these aren’t residential homestead there’s no redemption period for the owner.  

@Ambica PilliRecommend exploring as many sources as possible to get referrals AND cross-reference them to get as much accurate information as possible.Check out NARPM.com, BP’s Property Manager Finder (BiggerPockets: The Real Estate Investing Social Network), etc.Also, encourage you to learn from the mistakes of others - by reading posts here on BiggerPockets about owners not having their expectations met by their current Property Management Company.

Friend of mine owned the property in a land trust but managed it as a sole proprietor.

If the property doesn't work for long term rental, can they do rent by the room or co-living?

Purchase price: $113,000 Older house that was slightly renovated by the previous owner.

Pub 946, How to Depreciate Property) that you can also find online and are listed on page 2 of Pub 527.Depending on what your tolerance is for numbers and taxes, the info above may tell you what you need to know and save you some money.Good luck,Steve