Hi everyone, We are looking into a deal to purchase a 5 unit apartment building that currently operates as a short term rental.

Yes this is a Refi on a commercial property with additional large cash out included for sole purpose of reinvesting into another property, as well as a large operating line of credit in addition to the Refi is included.

Non-profits and/or sober living operators may also be interested, depending on their needs.

We are going to be operating separately from the school.

Establish an operating agreement for each LLC.

Additionally, I’ve been wondering if it might be possible to create an LLC, rent my house to the LLC through a formal contract, and then have the LLC operate the Airbnb.

In the next 5 years, we can buy one property per year with 25% down (~100K), and perform the same operation of using cash-flow for paying off properties next 15 years and we will have $15K/month net-profit which hits our goal adjusted for inflation (assumed at 3%).

@Tanya MaslachYou do not necessarily need to have an Ohio based entity to purchase and operate rentals in Ohio, HOWEVER, many lenders are beginning to require that either an entity based in the same state or a foreign entity is registered in that state in order to obtain a loan approval. 

Their book is super helpful, and so far I'm guilty of at least half of all the newbie mistakes they talk about, so I expect my rental operation to improve as I implement their advice over the course of next lease term.

And when people get tunnel vision for lowest $ down, they tend to not give attention to the revenue generation of it, the operations, and that's a VERY dangerous combination of high leverage and not so-good revenue.