Most lenders will try to steer you away simply because they don’t know how to do them.

Simply switching the right refis on or off you can see NOLs accumulate or deplete and the impact on returns. 

A good PM should be on top of this and not simply ride out the market shifts.Technology & Reporting: What tools do they use to monitor guest interactions, maintenance, and property performance?

Like others have said, you don't need an LLC to get started with STRs.If you own a single unit or even 2 or 3, simply make sure you have the best insurance to cover any issues as well as an umbrella that can cover any excesses.Plus the major key will be maintenance.

On top of that you have operational inefficiencies that local investors simply don't have.Some of the absentee (OOS) slumlords are giving all of us property owners a bad rep here in Milwaukee.

If it’s as bad as you say you will still win easily.

This creates a win-win situation.As for your equity partner question, the key is to present the deal in a way that highlights the security and long-term benefits for them.

They do not know the entire story, so the rates and terms offered are just simply teaser rates to make you interact with them.

This may be an unpopular perspective, but I believe long term hold is going to win out on short term 9 times out of 10. 

I would simply record things when they actually happen FOR YOU.