Separate checking accounts not required, but you need to maintain separate books and records.The TREC requirement is correct, but odds of enforcement seem low.

I'm talking to the seller's broker, but I would like to find my own people to assist with the due diligence period, such as an SBA loan broker, an accountant with experience doing QoE for this kind of transaction, and a lawyer.

Quote from @Eric Mcginn: Long time BRRRer here, planning on leaving my W2 soon to pursue flips (and raise my babies)   Ive read the BP book on flipping.

They charge 15% reservation fee for a complete management or $150 monthly if you do place bookings and they do coordinate maintenance, inventory, cleanings, front desk, admin stuff, and etc. 

An agent has a fiduciary duty to protect your best interests, which include protection from the many different liabilities that can pop up during the course of a transaction.

Lenders also have interest only options that could help with cashflow especially on acquisitions to allow you to get the listing up, and have your listing gain momentum (some listings start off slow while they accrue bookings, reviews, etc.)

This yields the % up or down we are in the current Q relative to the last fully closed Q, so as the transactions roll in each day I get an idea of the current Q's direction.I'll always advocate for building your own tools so you can build them to suit whatever your development schemes require for the best experience, efficiency, and confidence.

People want and use them and if you don't have them, some folks will pass on booking. 

I am eager to learn more from actual experience, not just books and websites!   

You really want to have your contract approved by an attorney even though California doesn't use attorneys for transactions.