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

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.

We are going to be operating separately from the school.

Establish an operating agreement for each LLC.

Mine is customized to my properties and my needs.I have a tab for each property.

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.

Thats like knowing where a gold mine is located and selling maps to go find it.

One thing to keep in mind is that in some markets, including mine, you cannot segregate against Section 8 renters. 

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.