If the place rents fast then it works out on your side, if it takes an extra month then at least it splits the difference on lost rent.

The STR doesn't provide access to rest of house as common area so they have their privacy mostly.I'm sure you can creative with extra rooms, a garage turned living space, ADU, a furnished basement, etc.Good luck!

Not sure what state you're in but in CA I'd have to pay an extra $800 franchise tax for each LLC even if I set up the LLC in another state (I was going to do the LLC in Wyoming for anonymity using a registered agent). 

(Fortunately, we were insured)Emergency Fund: Always have extra cash for unexpected events.Tenant Support: Keep good communication and support your tenants through tough times.Final ThoughtsThis July 4th was a disaster, but it’s also a stark reminder of the unpredictable nature of real estate investing.

I would be grateful for any extra help/introductions.  

Hopefully this is not some news to you, but sellers are no longer having to pay buyer agent commissions, now is a Choice, which might be confusing, but there is nothing to worry about. still, it doesn't change the fact that to maximize profit, it's wise for sellers to offer a buyer agent commission, attracting more qualified buyers to the listing. and for buyers, the main change is the need for a few extra forms and agreements before viewing properties. 

Or even have extra cash for reno to get a unit ready to get market rent.

The reality is the opposite - if it's not in writing then the PMC doesn't have to provide the service or can charge extra for it!

Makes sure they get it and understand.AirBNB won't give you anything for extra cleaning etc IMHO.

Not to discourage you further, but CA has so many little intricate details to running a business with lots of extra taxes or fees.