Also any tips for automating this as much as possible and how to protect the property financially and property management would be appreciated.I ALMOST understand the rental arbitrage strategy if building a company scaling with say 30 + units and looking for high short term cash flow.  

The way that I have done this in Costa Rica has been to bring in several partners on a high end luxury property who would like to own a part of a property that they can use and enjoy but that they don’t have to manage by themselves.Each of the properties that I own are at a million or higher or will be soon. 

I have been following the Real Estate Investing industry for a while and just recently decided to put my focus into it and implement a plan I had in mind for years.So I went down to Puerto Vallarta I put together a team of local realtors, brokers, contractors, property managers and a lawyer. 

I have many questions about this topic - moving from self-managed to PM - I'll post something separately on this topic. 

I used the concept to do arbitrage on 3 more of his properties and then transitioned to more of a management model in 2020 to offset my risk.

Yes, you can transfer your properties to an LLC without refinancing, but here’s what to keep in mind:1.

There are really great REI opportunities in different markets - markets in the Midwest and Southeast of the country are particularly lucrative - where not only are the purchase prices reasonable for most RE investors, but the homes are turnkey (new builds or completely rehabbed homes, tenant ready, systems 10 years of life remaining on them, property management teams in place) with appreciating home value AND appreciating rent.

@Allison Cutlip No offense intended but "How do we create a lease" and "How do we find software to manage the property" sounds a lot like you need a property manager. 

And will you be utilizing property management firms to help out? 

@Jason Brown - I'm a CT based investor, flipper, and property management company owner.