In the first 10 days listed on Airbnb, the STR rental revenue booked covered the entire mortgage.Lessons learned?

We want to detail the responsibilities, capital contributions, profit and lost sharing percentages, decision-making process, have dispute resolution methods, and exist strategies.

If your property manager is not listed as an additional insured, they may not be covered under your policy in the event of an incident on your property, leaving both of you potentially exposed to liability.It can save you money.If your property manager is not added to your insurance policy as an additional insured, they may be forced to purchase their insurance policy to protect themselves.

I understand credit enhancements and additional guarantors are sometimes required but to be unable to cover escrow funds and to give away deal ownership for that service is kind of crazy but back to the main point, the real issue is when the Co-GP is not truthful about their true role or embellishes their portfolio/ unit count. 

Yeah, no pre-approval for us as well.

By adopting the house-hacking method—living in one unit while renting out the others—we plan for the tenants to cover the mortgage and gain valuable property management experience.

This would make a great co-hosting opportunity without worrying about making enough to cover rent.

I've had clients rent by the room short and midterm and covered their entire mortgage.

Although normally it is better to start with an existing location. 

I guess that's part of my question, if you could have the security deposit cover that and people's experiences so I could better prepare myself.