Since you are paying cash, you can buy it in an LLC right off the bat, so that's fine.

I self manage a 4 unit that’s 2 hours away I have only been there twice.

•The short-term rental market is competitive, but that doesn’t necessarily mean it’s a bad investment.

Just because a buyer doesn't fit the bank criteria, does not mean that they are a poor borrower.

LLCs are normal for CRE, so you divvy up the ownership interest how you and your capital partner(s) see fit.What's your specific question? 

We have used a screening process, where the floors are not sanded but screened with a material like a window screen. 

There have been some very good spreadsheets posted on here in the past that you can search for and find.A spreadsheet is going to be much easier to use and play with different numbers than an app.

I saw in Charlotte Business journal that housing supply increased in January and continues to increase into February.  

Are we talking posh along "lake formerly known as Calhoun" property or an off Broadway "strap on the flak jacket" sec8 property? 

Section 8 sounds like a gold mine but it has its challenges that only boots on the ground can really help with.