There are also additional costs of operating and maintaining an LLC, like separate bank accounts, annual report filings, tax filings, etc.2.

This train is going to crash and there is going to be blood in the streets.

But we are testing this now.We operate 7 str's out of state...

I have a free training on my YouTube channel that teaches you how to create a comp set and review the competition in your market so that you can make an intelligent decision on whether or not to move forward.

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.

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.

What are operating expenses of each?

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

DFW AirBnB is getting expensive to operate and find good deals due to all the HOA regulations that are being implemented..If the property won't cash flow in LTR, then your option is limited to listing it, but I don't exactly know without looking at the numbers, as you can figure out some month to month strategy to lease the unit for a while.One thing that I always tell my clients is that when you are doing AirBnB or any STR/MTR, you are entering into the hospitality industry.