I'm making some life changes to set my family up for a better future.

You are correct that if you have silent partners (LPs), you would need to set up a syndication.  

Setting up the listing really wasn't that difficult.

You’re all set just the way it is.

We've got an LLC set up and identified our PMS and the tools we're going to be using.  

However, I had to subordinate the sellers note to 2nd position (hint: set up that language in advance to streamline the process, if that's the direction you're going to go).Since the ARV was high enough, and the potential income would support the mortgage and expenses, it all worked out. 

So, I will set it up that way; he suggested this, because if there are disputes between me and the tenant, then they are more easily resolvable if the entity is in TN.Great news, if there is anything I can help with here in Memphis please reach out anytime. 

I've never had a single complaint from any of my STR guests regarding not providing streaming services.Also, be sure to set that expectation up front in your listing - let guests know you provide high speed internet and have smart TV's so they need to bring their own log-ins if they want to use any streaming services.

Since I'm not a lawyer, there might be a specific reason, depending on your situation, why that might be useful.On the other hand, I've seen crazy large structures for small portfolios, and there are many attorneys willing to charge you for the help of setting them up. 

A good rule of thumb is to have 3-6 months of expenses (mortgage, utilities, insurance, etc.) set aside per property for emergencies.