If you give someone over 19% membership interest in the deal, the bank will usually require a personal guarantee from that individual. 

I think the biggest mistake that people make, is thinking that investing in STR´s is some totally different style of real estate. 

I’m not convinced it makes a real difference unless a person has a unique setting.

Quote from @Zach Howard: I think it's probably better to hold real estate in an LLC than in my personal name.

You’re going to be personally sued no matter the cause of the loss.

If you're more of a 'personal referral' person than a 'do research online' person, and this is local to you in Manhattan, KS, hit up one or two of the trades people in the "little apple all stars" BNI group.

So PLEASE don’t make another huge financial decision and then tell that same person after you do it.

It takes time and patience, but the long-term benefits are well worth it.I’ve personally gained invaluable knowledge, listings, and deals from friendships I’ve built over the years.The more people you engage with, the faster you’ll achieve your goals!

Quote from @Basit Siddiqi: I personally would not buy real estate with a retirement account.There are just too many headaches that are not worth the potential increased return.Some headaches when it comes to investing in real estate with a retirement account1) LTV values are less and harder to find lenders.2) Potential to sell or partially distibute the property if you have to do a RMD(Required Minimum Distribution)3) If you run out of cash and have to make a major repair, you may be out of luck and have to sell.4) Having to potentially worry about UBTI(Unrelated Business Taxable Income)I would personally invest in stocks/bonds/notes with a retirement account.I buy deals with cash and use a ROTH SDIRA so there are no RMD's.I buy at huge discounts to retail.

The key is to identify personal property from real property.