If you're just holding a single property, many start with online services like LegalZoom or IncFile, which are affordable and user-friendly.

We introduced a new color scheme for our new construction homes.Once the exterior paint was finished, we realized that we strongly disliked the color we chose for the garage door.Easy fix, spend the money to repaint the garage door and update the color package for future homes.Hiccups like this happen every day in this industry.

If you want to optimize you could identify the busy season and make that STR friendly and then the rest of the year block it for longer stays.

So, essentially, you are introducing a new uncontrollable risk into your landlord proforma.

I may us a "friend" that has an LLC, but will not create one just to be the trustee.

I was able to build a small team, but have struggled to see profitable gain in my situation.Cool to hear you actually went over and introduced yourself to boots on the ground in that market.

However, I have received an offer on my property from a very good and trustworthy friend that I have agreed to accept.

There are budget-friendly self-management sites that make setting up applications and collecting rent simple and again, you can pocket that 12%.

@Brian Scott, first I want to know who these friends are.  

@Elizabeth Colegrove I actually had your podcast recommened by another friend and BP member on Friday.