I think it's great to have it in black and white on a spreadsheet and to have an operating timeline.

They'll probably also want to be sure that you are competent to operate the property afterward, because their reputation is tied up in who they do business with, and it's bad for everyone if the property becomes devalued.

., AirBnB) as it will expose your property to bad actors.Law enforcement and the legal system seem to operate quite slowly out there.

I would definitely look into seeing if there are any AirBNB arbitrage companies operating in the area that may be willing to take it on. 

With running this "business" there will be operational input costs.

At $500/mo per door you would have $175,000 cash flow in a year before operating expenses.

You could create an operating agreement granting one of you the powers - but it is a fair amount of energy/time/activity for someone to manage and find deals.

Park Hill Golf Course was owned by a trust, in the wayyy distant past it was previously a dairy farm, but it has been operated as a golf course since the 1930's!

These documents include your operating agreement/ corporate bylaws, articles of organization, certificate of standing, and the EIN letter. 

Landlords mistakenly ASSUME all PMCs offer the exact same services and operate the exact same way, so price is the only differentiator.So, the first question they usually ask a PMC is about fees - instead of asking about services.This also leads them to ASSUME simpler is better when it comes to management contracts.