The reality is the opposite - if it's not in writing then the PMC doesn't have to provide the service or can charge extra for it!

My fiancé and I are looking to build a 3-4 unit townhome style multifamily in the Knoxville area.

I did STR in a duplex starting back in 2017 and managed for others in North Conway, Ive since converted to all long term tenants and happy i did so... unless your property has something unique or a "rare" amenity.... like, sleeps 30, I honestly would not waste any energy on it in the north Conway area. so saturated, and so much big money being invested in the hotels, its tough to match amenities vs cost, and I see travelers trending back towards the hotel style accommodations. granted, for the right price, I'd buy anything and figure out what the best use for it is. use airdna.co for decent data on # of Short term rentals in any particular market. can also identify opportunities. the point of my response.... be careful in STR in any area and always have a plan B. you can change a lot of things about a property, but your cant change your basis!

We have started down the road of fixing the place up, because we have a strong personal relationship with the seller, but it's time to get this in writing and set this deal up legitimately.I'm going to jump on YouTube and watch some Pace vids, but any other suggestions, resources, etc. would be greatly appreciated. 

So I'm okay not making the big bucks STR style, but I also don't want to do it at a monthly loss.

Just write it as yourself and see what happens.

Would they write checks to every owner if they lose?

I still consider myself fairly new to this world, and I can say with 100% certainly the biggest battles are the internal ones, and this industry has given the pleasure of being forced to address several of my short comings, and continue to address them all the time.I find I get the most emotional when I get reactionary, so my constant focus is around honing and suppressing reaction as a whole both internal and external.Thanks for taking the time to write this up.

If you gave them everything in writing then you shouldn't have much of an issue with the eviction.

I actually make my own greens smoothy / drink often but when I am on a writing heater and don’t want to pause, I grab some AG1.