It would be a tight budget but I do have money set aside for repairs.

Not some basic furniture with a couple of sets of silverware thrown in.

Self managing is a solid way to learn the business, and it’s smart that you’re already setting up systems and tools. 

You can set it up yourself at www.sunbiz.org , which is the website for the State of FL Division of Corporations.

I am assuming this is in TEXAS (I am editing this as I thought I was in the Austin Fourm, I understand now that you might not be in Texas)  as each state has their own set of laws that property managers must follow.  

A knowledgeable attorney can advise here.Create a solid operating agreement: Since you own the condo with a friend, a clear operating agreement is essential to outline responsibilities, decision-making, and profit-sharing for the LLC.To save on costs:Look for real estate attorneys who specialize in investment properties and might offer package deals for the retitling, operating agreement, and filing the LLC.Shop around for title companies that can handle the transfer smoothly and provide competitive rates.Research DIY options for setting up the LLC if your situation is straightforward, though I’d still recommend a lawyer for the transfer process itself.Good luck with the process!

I personally concur .. they charge 6k to join the club they bring in folks who have no experience and set them lose.. with so called training..

Yes, long-term rental clients sometimes don't want short-term rental next door to them, but you are the owner and landlord and set those expectations up front so it's on the table before they lease.

Explore my personal favorites, Set For Life by Scott Trench or The Total Money Makeover by Dave Ramsey, for invaluable financial insights.3.

Quality furnishings, attention to detail, and seamless operations helped set the property apart, maximizing its earning potential.