We are going to be operating separately from the school.

@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. 

Also, many lenders are picky about the operating agreement and structure of the LLCs.

Hi everyone, We are looking into a deal to purchase a 5 unit apartment building that currently operates as a short term rental.

I inquired about the possibility of a two-company structure: A traditional LLC that is the public face of the activities (collecting rents, paying contractors, etc.) and managing the Series LLC with each property in once cell in it (in this case, Series LLC is serving as a holding role).Again, one attorney said that would be much better than a standalone LLC and that is recommended approach, and the other said it is waste of time and money since there are some requirements from Texas Real Estate Commission, which is requiring being a licensed broker in the state to operate in the managing LLC.So, just want to hear what other Texas investors are doing when it comes to series LLCs regarding these issues. 

Living, but either way you could try speaking with existing owner/operators groups in the greater bay area, or even central coast, looking to expand their portfolios for a joint venture.  

Establish an operating agreement for each LLC.

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%).

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.

Their book is super helpful, and so far I'm guilty of at least half of all the newbie mistakes they talk about, so I expect my rental operation to improve as I implement their advice over the course of next lease term.