OOS investing has operational inefficiencies, because you work remote.

To me BPRE was more about the individual stories of the investors and how they operate, with the hosts sharing their experiences as it related to discussion.

You need to know what to look for, what to address, and have solid buisiness acumen to run a MF operation of that magnitude.

Even really skilled operators are left with no back up plan because they can't pivot to LTR in that market, can´t fetch the price they paid because the STR has lost some steam and was bought using nightly rate numbers etc.

More than likely the asset will in a location where cap ex & management/operational costs are disproportionately higher and therefore your expense ratio will also have to be adjusted to a higher number.  

As a sole operator, you have all the policies and procedures in your head and can apply them to many properties without referring to a binder.

When I run the numbers based on these rents, the property operates at a negative cash flow.If I increase the studio's rent to $1,400 per month, the property becomes cash-flow positive.

Verify with the city.Personally it makes no sense that an LLC would be able to operate without being onsite when it is required.The only thing that sticks out is the grandfathered in statement.

It also is helpful to have a California LLC in case you ever sell that property and move into another state so that you do not need to form a new LLC altogether with new operating agreement, just re-register in the new state as a new foreign LLC.

The investors must be provided a Private Placement Memorandum, subscription agreement, and operating agreement.