To me BPRE was more about the individual stories of the investors and how they operate, with the hosts sharing their experiences as it related to discussion.

Quote from @Erick Pena: A "good" rental property is one that covers all expenses (mortgage, taxes, insurance, maintenance, property management fees, and any other costs) and still leave a surplus (commonly referred to as cash flow).Calculate cash flow as: Cash Flow = Rental Income − Operating Expenses − DebtThere's much more to it, but that's the basic idea.

Does the operational company already exist and have income history?

He was at the heart (and brain) of a fantastic educational operation – one that was undervalued because he did not charge much for it.

If you are able to setup a credit card identical to your accounts payable accrual account, it should operate the same.  

I currently operate a few STRs so have a good understanding of that aspect although they're all located in touristy locations.

From there you build a team using your CORE 4.

The properties we operate are all in Indiana. 

How do you plan to operate it?

Quote from @Isadore Nelson: Quote from @James Hamling: @Jonathan Greene to piggy-back on what your laying down here: I believe a core component of the "problem" is a gross over & mis use of "Cash-flow".