I will say that even though you get the boost from VRBO and AirBNB, the first year of operation is usually lean as you build up the rep.Offering a discount on the stay is a way to be more attractive but don't go crazy.

Fannie Mae will allow you to transfer the deed to an LLC if you decide to try to go the conventional route, but the loan would still be in your names and you'll need to pay a title company a second time post-closing to do this  for you. 3) I can't speak for the area so no comment there4) If you're self managing, make sure you find vendors you can trust in the area since you won't be able to easily verify if an HVAC guy, plumber, etc. is trying to rip you off and tell you to buy something you don't actually need. 5) Make sure you have clear alignment of goals and a clear operating agreement that spells out what to do if those goals start to not align in the future since you'll be jointly obligated to these properties. 

I’m in Ohio, so I can purchase a property with $40k cash out, invest $10k in repairs, and rent for a couple hundred above the monthly operating costs.

Airbnb operates as an interest-based algorithm, rewarding listings that grab attention and keep potential guests clicking.

one thing I didn't see in this thread is... do you WANT to own and operate an STR?! 

Congratulations on the duplex -My investor clients have acquired several multi-family investment properties locally in the market I operate in Northwest Indiana - Figure out your personal investment objective for the next 4 years and align yourself with the next property that make sense in this current market environment-

We would need to know your current operating expenses (and rent) to be able to provide any suggestions.

Board collected those funds and put them in Operating instead of Reserves.

I have over 30 years experience in operating office buildings in NJ and would be will to run the operating arm of these investments for a % of the deals.

Regardless, guy did a great job so not going to complain about order of operations, but I am in a bit of pickle.