I was thinking of doing Airbnb arbitrage in Cincinnati but discovered that there is a restriction that the STR operator has to live within 50 miles of the property.

If it could do it what it claims to do in a more streamlined and organized fashion, it could be decent. 

Hi @Avi Manthe being a local milwaukee real estate investor here are some organizations that are worth checking out to grow your network for hard money, contractors, etc. 

If investors attempt to streamline their services, it can lead to a more organized approach to property management, lowers the risk of gaps in insurance coverage or missed tax benefits as well as simplifies communication and reduces confusion.

What are operating expenses of each?

It's finally a passive operation for me.

You will want to structure the LLC operating agreement where the lowest credit scores own the least in the LLC.

I saw I need a TPT license to operate an Airbnb, do I also need a buisness license ? 

Balance Sheet is a snapshot of the company's financial health at a specific point in time.Income Statement is a showing us the health on an operating POV.

I am not making any conclusions just doubting, as previously mentioned, if a 30 year conventional mortgage (nonconforming, but standardized within the banks operations somewhat), necessarily excludes renting it out.