I will likely need financing on TX end of the deal and it will be cleaner getting financing with everything in the LLC name.  

I agree with John, as long as you have someone to call for any issue that may arise, then you are good to go.Make sure you have smart devices like locks and thermostats that you can control from your phone.The most important person you will need is a reliable cleaner!! 

Another friend needs to renovate his house but can't get anyone to do it, it's brutal.Plumbers, roofers, lawncare, there's no one available to do this work bc there's waaayyyy too many Airbnbs for the local labor market to support.Not to mention the dire shortage of cleaners and handymen.

I’d do option 2, Mammoth Lakes, simply because you have friends who have strs in that market which means they have contacts for handymen, cleaners, etc.

I have seen other people charging linen fees and admin fees.My cleaning fee is a little higher that the cleaners charge to cover consumables and minor replacements.

They also left the house very dirty; no damage just took our cleaners much longer to clean up after.There are some great people that use Airbnb, but where there is an issue it is usually from one of them.I have had maybe one issue from someone that rented via Vrbo but it was minor.We made record cash flow during the pandemic (from Vrbo) during the pandemic.

I also know to put off the cleaner until the VERY end.

@Joe S.If you are looking for someone to purchase furniture, supplies, keyless lock, and set that up for you...then you might be able to ask your cleaner, handyman, or combination of both.If you are looking to determine if a home in a given market will make a good STR....I like to do that research myself.   

In addition, you will need to hire cleaners etc.

However, this notion was struck down in court by the wording “beneficial” interest in mortgage and deed of trust documents.Bottom line there is nothing that a property placed in trust can do that a single member LLC can’t do cheaper, easier, and “cleaner”, in MOST cases.