I expect to be at least $40k (for 2 units that have been in operation since 1999 so well established) below my 2019 numbers (so below numbers from before any COVID impacts).   

Over time, I also anticipate that the cashflow will improve slightly as the listing continues to excel (26 out of 27 reviews have been 5-star) and book out into the future.My current plan is to give the PM a full year to establish the listing and then revisit what my cashflow scenario looks like.

Have you established your overall goals yet?

Your biggest hurdle will be dealing with regulation red tape, and finding a place where it can be done.

The building has been passed over by many people due to the layout, but I have a creative and viable solution (boutique hostel/hotel hybrid in well-established and overpriced tourist destination). 

In my view, the rules keep you from investing a sizable portion of your net worth on a lightly regulated investment marketplace.  

At this point, they establish the total town budget.  

Check for Superhosts in the area with high ratings and reach out to see if they’d be open to managing your property.When choosing a management company or co-host, make sure to:Compare fees (usually 10-20% of rental income for STR management).Check reviews or ask for references.Ensure they have good local knowledge and can handle STR regulations in Indy.If you need further assistance or advice, feel free to reach out.

You can earn honorable discounts and fees overtime by establishing mutually beneficial partnerships with one lender or broker but squeezing them dry for a lot of hard work and not equal pay isn't something I recommend making a strategy

I'm not advocating he establish a new LLC without using an attorney or registered agent to define the bylaws of the agreement.