This deal came up and I had to jump in two feet first.

It doesn't matter the macro environment or where interest rates are at, there are always deals to be had in any market using fundamental logic.

I'm estimating ~60% occupancy and planning to set flex rates $185-200+ per night.

If they have a good interest rate it might be worth looking to see if you could assume their loan to take advantage of the lower rate.  

When doing a full due diligence on these companies, I found out that their trustpilot rating was 1 star and read several lawsuits filed against them, by multiple homeowners.

So that first year may be a 2 to 3k loss or break even unless he gets lucky. 

Hey Tim did you end up finding someone I am also first time buyer in Cleveland and looking for a good property manager thx 

There is a possibility that the first deal you make doesn't go well.

My structure would look like this: 1) I will use the CRM Portal and Deal Analyzer from Clever Investors ($400 per month for portal, deal analyzer, leads skip tracing) 2) My first team of VA’s (Team 1) will cold call and add all “potentially yes” sellers to my CRM portal along with preliminary answers about the property and seller motivations. 3) My next VA (Team 2) will follow up with potential seller, get more details on motivations and property conditions, coordinate securing pics of property, use deal analyzer to run comps, generate ARV, and repair costs. 4) I will review and confirm recommended offer; providing 3 offer amounts in preparation for counteroffers 5) Team 2 VA will submit offer to seller and coordinate contract signing.6) Team 1 VA will conduct buyer search and add potential buyers to CRM.

@Jardin Gwinstart with a house hack first.