Download and pay the small monthly fee.

In case it is important, we are based in CA.Administrative Requirements: Are there differences in ongoing fees, reporting requirements, or other administrative burdens between the two states?

I do this annually anyways to up my credit limit to help my score, and to negotiate annual fees.

Find them a deal and instead of paying you a fee, partner up with them and they will teach you their process in exchange. 

This would include architectural fees, new equipment, cost of protecting or defending your title to the property, or building improvements.

if they have a fee associated with a new lease, there is little incentive on their part to find the right tenant).

I do not charge an application fee until I am ready to offer the unit to an applicant assuming that there is no disqualifying info on the credit/background report which I do run even though I don't require good credit.

Cleaning fees should essentially be a pass through expense as they are paid by the guest and neither you or the owner really ever see that money.

You would file the name with the state for each series created so it's clear its a series, but you wouldn't have to do a whole entity formation or do the annual filing fees.

@Jerry ZhangYou cannotYou can give a personal guarantee but then you would have to have other assets.What could happen and we have seen many times is they go into default and the 20% equity cushion goes out the window due to late fees, accrued interest and legal costs.