If you're doing a hybrid model of STR and MTR, I would suggest just getting a STR policy. 

Of course if there are different LP partners that will necessitate separate entities, even if the underlying assets themselves don't justify the need.

I even tried syndications (as a LP,) and learned that I can do better on my own - at least without breaking promises/making myself a victim of fraud, the latter I warned others about on a deal I was being pitched (and time proved me right.)

Determine your rental model -- sounds like STRs or Airbnb, right?

After having some difficulty finding qualified tenants who could afford the rent, a highly qualified tenant approached me asking to lease one of the houses using an STR arbitrage model. 

Sent my tech over and they had the flex line to the tank so twisted it cut off flow to lp, new one for me but it's real!

Originally posted by :    @Marco Santarelli  I see this going right back to what got the industry into trouble last go around owners with little or no cash into deals.. especially lower end tough to manage properties.. just because they can get low down they Better Have substantial reserves. this model created a lot of failures from owners ...

I have excellent role-models in my own family of first-generation immigrants who have invested in RE decades ago and now enjoy total financial freedom before retirement.

I had my fare share of financial modeling and asset management and can say I know how to analyze deals and asset manage very well.But, I was not too involved in the closing phases of the deals (lawyers, reports, debt placement, contract negotiations, parts of the DD...) so I lack knowledge in those parts, which I make up for in reading ton of materials and listening to podcasts.• After that I worked for three years as a management consultant at McKinsey where I sharpened my business acumen, problem-solving, storytelling, and presentation skills.

A common rule of thumb is to budget around 1-2% of the property's value annually for maintenance.Management Fees: If you plan to hire a property manager or use a property management service, factor in their fees as part of your operating costs.Contingency Fund: Always include a contingency fund in your budget to account for unexpected expenses or fluctuations in operating costs.Financial Modeling Tools: Consider using financial modeling tools or spreadsheets designed for real estate investment analysis.