Create a separate "operating" LLC to handle management activities, including collecting rent and signing leases.

Quote from @Steve Wortman: Currently the owner operator of a motel.

Private equity firms seem to favor larger operations with scalable systems, while smaller mom-and-pop firms are often acquired by local players or regional operators looking to expand their footprint.If you’re looking for actionable intel, reaching out to brokers specializing in the sale of PM firms could provide useful leads.

Many of our borrowers/clients have one LLC that owns the building and another than own the operating business.

I had one short term rental that was granted a permit earlier this year and I have been operating it for months now as an STR.

Anything you do remote will come at a cost of operational inefficiencies and a higher cost of doing business.

@Ella Marie, I can't speak on behalf of your market, but in my respective market, competition is tough, and the successful fix-and-flip vendors are often full-time operating businesses.

The operations will make or break you. 

I’m an operator here in the greater Houston area.

I understand that they operate in real estate under one of a few exemptions from registering as a security with the SEC.