Many investors successfully manage this process remotely, especially if the new property management company is experienced with out-of-state owners.Once you identify a new company, here’s a general outline of the process:Review Your Current Contract – Check for termination clauses, notice periods, and any penalties or fees.Notify Your Current Manager in Writing – Provide formal notice according to your contract terms.Coordinate with Your New Manager – The new company can often assist with the transition, including collecting tenant records, keys, lease agreements, and security deposits.Communicate with Tenants – Your new manager will typically send an introduction letter to tenants explaining the change.Ensure a Smooth Handoff – Confirm that the new company gets all necessary documentation and access.It’s also wise to ask the new company about their onboarding process, how they’ll handle the transition, and how they maintain communication—especially since that’s been a major issue for you.

By asking these questions, you can gauge the professionalism and reliability of a property manager, ensuring that you choose someone who will effectively manage your investment.Thank you for outlining these points — this is genuinely helpful.

My name’s Caty Deaton — I’m based in Kentucky and work on the dispositions side of real estate investing, helping connect investors with off-market properties nationwide.I’ve been diving deep into wholesaling, creative finance (Subject-To, seller finance, wraps), and multifamily deals.

Thanks for sharing your thoughts on the subject.

This means a portion of the previously taken depreciation will be subject to taxation, effectively lowering your adjusted basis in the property and potentially increasing your taxable gain at the time of sale.

A Tansfer Disclosure Statement is required for all defects (repairs) past or present, permitted or not.Some common small repairs that require permitting (well outlined on SLT website) are; replacing water heater, repairing/adding any electrical, replacing windows/exterior doors, adding/upgrading plumbing.

However, it’s important to remember that S Corps are generally used to minimize self-employment taxes on active income, which may not be as beneficial for rental income, since rental income isn’t subject to self-employment tax.Also, with properties across multiple states, the LLC should be set up in the state where the property is located (NC, SC, GA, or FL), and the S Corp in Florida can be used to manage your operations and provide additional liability protection.

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. 

In your case, there are a lot of details that need to be known, such as:-Do you have the mandatory 7-day grace period before rent is late, outlined in your lease?

If you share rents, taxes, and your target loan type, I can outline two structures (stabilize-first vs. flex-turnover) so you can choose the lowest-risk path.