Expenses will level off: Multifamily operators have been plagued by expense increases in the form of taxes and insurance, for the last few years, especially in the south, and especially in Florida and Texas.

Even really skilled operators are left with no back up plan because they can't pivot to LTR in that market, can´t fetch the price they paid because the STR has lost some steam and was bought using nightly rate numbers etc.

I’d love to hear more about how you approach finding these under-$2M properties and what strategies you’re implementing for operations optimization.

After paying a competitive rate for the property management and ASSET management that the small operator does himself.  

No one is going to come to your door stalking you, but feel free to pay a few grand a year to "hide" your identity that will be able to be found in 15 minutes or in a request from the tenant if they request ownership of the LLC or the operating agreement to understand who they are signing a lease with.

We’re looking to install a property management firm within the organization as a way to generate steady income and keep operations running.

Looking to see if anyone has a basic template of an operating agreement for a business partnership of two parties involved in the fix and flipping business?

BP has a book on Partnerships written by Ashley Kehr and Tony Robinson.On the technical side I would suggest partnering on a single flip which can be done with a simple JV agreement before jumping into creating an entity and crafting very good operating agreements.

I think if you have a little extra time, operating a smaller STR business can pick up some good income.

If your leasing application process is thorough and well thought out, and if your lease agreement has been well drafted by your local attorney and if it includes clauses that permit you/your property manager enough latitude to maneuver and anticipate undesirable tenant behaviors, both actions and inactions, and you have operational processes which align with enforcement of your lease, then you've done all you can do to reduce this inherent risk of an undesirable tenant.