This keeps your main operating funds separate, and you can transfer money out as soon as rent is received.Enable Bank Alerts – Set up notifications for incoming ACH transactions.Review Bank Security Policies – Ensure your bank has safeguards against unauthorized transactions.Use a Property Management Software – If you’re serious about growing your rental business, consider platforms like Buildium, RentRedi, or AppFolio.

I agree with Andrew, if you have cash do your first project with your own money to prove proof of concept, many lenders will want to see you have experience and can manage and handle the project.

It really depends on the amount of rentals you manage.

Don't get me wrong, some condo associations are great, stay well funded, and manage the common areas as the condo owners would like.  

Looking to connect with any investors, realtors, property managers, contractors etc from Fort Wayne :) Feel free to comment or DM!

My units cost $35k to fully furnish, and my ROI was astronomical because although the market was limited, I OWNED the market.   

I have to say that the overwhelming positive responses here are encouraging and reassuring and offering some relief relative to what seems to be very few bad experiences from those who have had managed STRs for a while.

With out building, just rehab and raising rents about 400k of equity can be added; in building with approved plans  its approx. 1.4M (less the cost of addition of three apartments and environmental) I owe 500k and the after addition value is between 2.1 and 2.5m. with another kid on the way and cash restrictions I would rather sell for 700k and leave 400-900k on the bone for someone else to buy this headache.

If you are wanting to maximize depreciation you could talk with your CPA or someone who specializes in cost segregation studies.

With the mix of residential and commercial tenants, financing and management will be a bit different than a standard duplex.