I’m planning on creating an llc before I purchase my first property (REDAvelopment, I thought it was clever) so I can start establishing some business credit right away, since I’ll have to personally back the commercial loans.

I love the stove nook- very clever!

They will completely manage the whole thing, including linens service, photography, customer support, etc.

That means I’ve put 10k in the deal for a SFR appraised at 100k. (10% down, again, simplified for the example, no closing costs, no rehab) That means I have 90k of my original 100k to repeat the same thing. ...Wow, you make money from thin air, that's pretty clever (or not so bright).

:D I thought that part about shadowing was pretty clever, too.

I came across this clever saying that most landlords will agree with:It won't help a young man much to be one hundred years ahead of his time if he is a month behind in his rent.Correctly guess who made that statement by adding a post on this thread, and I will vote for the first post with the correct answer; I am limiting myself to only vote once in this thread.

You also have replacement costs associated with furnishings (replacing linens, broken plates, consumables, etc.)You'll probably get a better response asking this under REAL ESTATE STRATEGIES > SHORT-TERM AND VACATION RENTALS

I got properties from PropStream and through other clever ways and most if not all of the letters I sent out was returned to me.

I had also had the contractors over to the house to bid on converting a linen closet next to the water heater closet into a laundry room with a tankless water heater.  15K to 17K was the range.  

Consider you'll have to furnish all 5 units (including stuff like kitchen supplies, linens, etc) - cover your nut with long-term leases, and see if STR is going to be worth the hassle and expense.