Need some advice on the best way to structure this deal that's fair and beneficial for a 3 person LLC/partnership agreement.  My father and I have formed an LLC with another friend to start buying some rentals. We fou...

It is a fairly signinificant set up fee and monthly charge. 

Self managed HOAs are usually undercapitalized so you want to take a thorough review of the condition of the community to make sure there isn’t deferred maintenance because you might get hit with a special assessment if the board isn’t setting aside cash for those capital improvements.At face value, taking into consideration my typical financial objectives, I wouldn’t do this deal unless it was a much lower price.

If so, they all have / bring it's own set of questions, guidelines to know about.#4 - Have someone local that you trust, go over zoom and get to ask them question.

In my area these are rare so they are difficult to set market rent, and I imagine get a lot of wear and tear with a lot of occupants living there. 

In Milwaukee the weather can get pretty cold and we want to protect the tenant, but also the pipes in the property from freezing.For that reason we do have a stockpile of emergency equipment which includes electric space heaters.

Setting them up to do well.

I want to stop being pennywise pound foolish and get things set up properly. 

Chalet is a great resource for getting set up with a STR team.

.: Quote from @Shiloh Lundahl: @Stuart Udis and @Jaycee Greene The way that I set it up is as follows. 1.