I'm sure in markets that differ from mine that people will have very different experiences.I'm in a VERY blue color cash-flowing market.

One demanded we paint the interior the color they wanted or they wouldn't renew their lease.8) MoveOut damages typically exceed their security deposit.

Quote from @Michael Baum: Hey @David Rutledge, the purchase of a small hotel is a very different animal than SFHs for STRs.Like @Luke Carl said, you will have to have some significant skin in the game.

Even with HMLs, they would either want to see reserves, or you would still need to put in a little 'skin' into the game to make the deal workGood luck!

What is the best way to handle it so that both LLC members have a skin in the game?

If so PLEASE let me know as everything I get my hands on is published by one sponsor or another In the dark ,Robert 

Make sure the decor and color selection are great!

@Jody Schnurrenberger Definitely no regrets...yet ;)I wish I could shine a little more light on it for you but, without knowing what else the seller has going on, I'm afraid we're both stuck in the dark.

My Dad had contracts that had 4 copies in them no need to have carbon paper NCR paper they called it.4 different colors .. the contract was one page and it included the escrow instructions..

But it's in your interests to make sure the property value makes sense and the borrower has skin in the game.