•Target a property in the $800K–$1M range to maximize leverage while keeping costs manageable.2.Open a Second LLC:•Create a new LLC for this property acquisition to separate liabilities and maintain a clean structure.3.Assign Funds & Organize Finances:•Allocate funds to property improvements, marketing for new deals, and reserves for emergencies.

Direct expenses are expenses directly attributable to the rental units (ex: rental unit repairs/cleaning, advertising, rental adm exp, etc)

I have done this routinely with people like Josh in my real estate world. 

Since you mentioned a construction site injury in your initial post, the best way to proactively avoid premises liability claims is by keeping a clean worksite.

What are the cleaning and management costs? 

Like the push to get tiny houses accepted and zoning changed,   a "cleanly well run rooming house" business model has yet to get much muninicipal acceptance tracktion.  

Most of the time is spent answering guest inquiries, scheduling cleanings, and handling the occasional issue that pops up.

So if you want to handle the extra work, like cleaning, repairs and all of the calls and texts, then go for it.

Note: Our initial goals are to wholesale to build immediate working capital (targeting $150k) and hold for cash-flow to build 10k/mo FCF (free cash-flow).We have made some cash buyer connections, identified and underwritten potential deals on hundreds of current deals, and developed professional relationships in our target community (cleaning, construction, governmental). 

I rent STR mostly through airbnb which acts as a rental manager and I have an assistant that I personally hired to flip/clean the units and also on site for renovations.