I then sold the “business” (equipment, name, signs, goodwill, etc) to an operator for $50,000 cash, and the operator signed a five year 3N lease at $3,000 per month.

You should definitely check out Avery Carl's BiggerPockets book "Short-Term Rental, Long-Term Wealth" https://store.biggerpockets.com/products/short-term-rental-l...There is a lot of amazing insight into everything to think of while operating an STR.

So knowing scope would help narrow down on risk mitigation tactics.I guess at the end of the day, it all comes down to knowing what is needed, order of operations, and having as close to true quotes from reputable contractors in hand.Beyond that, really knowing all that is needed and having those extremely detailed scope of works for each trade before you get your bids.  

Quote from @Michael Lynch: People rarely talk about the amount of effort involved in operating a STR.Never sell a property unless you have a clear plan to reinvest the money into something that will perform better or move you closer to your goals.

We are looking for an attorney with experience that can construct an operating agreement for an LLC for an acquisition of a multi family property in the state of Arizona. 

I am a CPA operating a firm myself.

I think, at the core BP still helps a ton of people get into the real estate game.I personally also fell off the podcast when Brandon Turner left.

How about "Beyond The Pro Forma" - Hidden expenses and revenues/opportunities as you operate/asset manage a property....

A spreadsheet has its place in your daily operations and tracking efforts, but I highly recommend starting with a software like QuickBooks Online to track your expenses in a more formalized manner.

My Realtor has since voiced that there were bad operations on the team and multiple mishaps with other clients — Realtors putting amendments in front of clients the day of closing and their inability to effectively communicate with clients the amenities of the units.