For STRs in Indy, having a solid property management company or co-host is key to maximizing your rental income and keeping operations smooth.

I did speak to a real estate attorney, and his recommendation was just have the property LLCs and operate out of them property wise/independently.   

For example, Brandon Turner was great as a podcast host that helped a lot of people and now seems like another slimy online guru who is better at promoting and fund raising than being a good operator. 

Hello Sara, I am a General Contractor and I own and operate Raising Detroit.

Look for long time operators, ideally that survived the Great Recession.  

A few things I do personally for clients is: create a P&L, market to my buyers list, pre-market the property online where the target audience is, and make a plan for bookings and the booking calendar to minimize losses while up for sale and operating simultaneously.  

Smaller facilities have smaller operating budgets so any one bigger repair or required maintenance item can blow your annual budget.

I use competitor pricing as guide posts but since I've been operating for several years, I look at historical, year over year data for my own place and raise it a bit.

This tenant operates a resale business and is currently renting a single unit on the ground floor.

Would I need to re-write the operating agreement if it was not previously used for real estate?