Simply document everything you do and create your own Standard Operating Procedures (SOPs).

What tools have worked best for you to streamline operations? 

A lot of investors have great success when they start with a deal that has lighter value-add potential and use that deal to learn how to operate a rehab.

You're planning to operate this as a STR/MTR.

As an owner-operator you will be able to screen tenants a little more carefully than a PM typically does in my experience. 

Find GP’s who are pretty transparent with things like monthly financials, monthly summaries of operations, etc.

We operate primarily in the Southwestern US and New England area.

That's really cool and I suspect my dad mentioned our operation out in KC to him.

Converting debt to equity if allowed by the operating agreement is not indicative of a Ponzi Scheme.  

Like aircraft checklists and vehicle operators manuals (the -10s), one can benefit from extensive research, trial and error, and deliberate improvement principles gained by the many that have gone the path before.