Otherwise you'll just end up where everybody else is, and there's no money there. 

(For example, explain in your listing description or a message to the guest that you will email a door code at 9 AM EST on the day of check-in.)Vrbo’s actionsIf a guest contacts us within 72 hours of their check-in time because you didn’t provide information critical to their stay, we may take the following actions:Depending on the issue, we will either provide the necessary information or contact you for a resolution so the guest can proceed with their stay.If we’re unable to resolve the issue or reach you, we’ll cancel the booking, refund the guest, and help the guest find somewhere else to stay.

Being trustworthy and proactive are huge, you know a property manager is great when you know they will do the right thing when no one else is around and they do things when they aren't asked.

People are doing deals unlike anywhere else I have seen.

If you don't want to deal with an HOA, the best thing to do is sell and invest in something else.

Did anyone else live with the tenant(s)?

I wouldn't be overpaying for something with good seller financing.Rates are coming down in the next 24 months, you can just buy something else with the intention to refi down.

If not, than the appraiser just messed up and should be an "easy" fix by contacting your lender to either have it reappraised or appraisal updated.  

Here is some info on why they recommend one still:It is recommended that single-member LLCs have an operating agreement for a number of reasons, including: Protecting against personal liability disputes Maintaining a clear separation between personal and business affairs Providing guidance on how the LLC should operate Making it easier to work with third parties Allowing someone else to run the business if the owner is unable to

Is there a strategy for buying something that someone else has already improved or is inexpensive (or off-market) and starting to do a short-term rental right away?