Just buy your first rental as a house hack to get your foot in the door and get some operational experience owning/ operating Multi-family.

Hello BP,I'm wondering if any experienced operators out there can shed some light on best practices.

One of those rules required the STR platforms to remit the San Antonio HOT tax directly rather than having the operators/hosts remit and pay that.

.-- If you're the lessee (and not the deed holder / owner): COH will require written consent by the owner to the use of their property as a        STR and to accept liability for taxes if the STR operator does not adequately remit Hotel Occupancy Taxes (HOT) as per local                         regulations. laws—a responsibility most owners will be reluctant to accept.-- Expect a grace period of two months once the new regulations are enacted into law.

I will also change all 4 BR windows (common windows have already been changed) and a wall heater (not operational) but consider these cap ex and not included in the $5k.  

I've tried emailing the operator but it's been a couple of weeks and I haven't heard anything. 

For example - say you're a limited experience owner/operator buying a 30-unit deal in downtown Seattle (a Freddie Mac SBL "Top Market").

or simply do not operate in that state.

Remember the LLC can be deemed worthless if you fail to operate your business in accordance with  with the operating agreement.

I think the biggest challenge is making sure you have systems and operations in place early on.