The Flock only operates portfolio of SFR.

I'm based in the Tampa area, and my business operates in South Florida.

I know he is your brother, but that's a quick way for a bad Thanksgiving dinner when you disagree about something and don't have an operating agreement to help you resolve the issue.

The feedback I have seen and gotten more often than not is to form an entity in the state where you are operating.  

He's a guy looking for help from experienced MTR operators, and a few of us responded.

I don't use Padsplit, but have done research into them because they operate here in the Phoenix market.

For a business plan, you'll want to include sections like your business model, market analysis, financial projections, and operational plans.

A very specific and common mistake that AirDNA makes is that many STR operators don't allow back to back bookings so for each real booking it will include a day on either end of the booking which it includes in it's revenue determination.I believe Cliff on his experience with overly optimistic projections. 

Is this how your syndications operate? 

I would suggest connecting with an operator in your intended market.