A well written management contract should clearly spell out what is expected of both the PMC and the owner, to PROTECT both and avoid misunderstandings.

I want to go for the lowest but I also want to make sure that I am appropriately protected.

Too many people are scared of townhouses and condos, but you are protected against a lot of the repairs of single-family or multi-family ownership.

You create LLC for asset protection and has nothing to do for writing off expenses.

A well written management contract should clearly spell out what is expected of both the PMC and the owner, to PROTECT both and avoid misunderstandings.

We see so many different entity structures for rental portfolios in our REI Bookkeeping Firm.Ensure it's simple enough for you to easily abide by the structure in your day-to-day operations (which your question is getting at).We've had bookkeeping clients with complicated structures that apparently protected them to the maximum degree but they didn't abide by the structure when conducting transactions in their business daily (lots of unintentional commingling).

All the usual creditor protections are thrown out the window depending on which BK court has jurisdiction.  

.- Insurance: Short-term rental insurance (beyond renters') can protect you from guest-related risks.- Licensing or Permits: Check if your area requires permits, as some cities have fees for short-term rental operators.Breakeven Analysis: To calculate your breakeven occupancy rate, add all monthly expenses (rent, utilities, cleaning, insurance, etc.).

Just make sure the builder’s risk policy is in place while the property is vacant and under construction to protect your investment.

A well written management contract should clearly spell out what is expected of both the PMC and the owner, to PROTECT both and avoid misunderstandings.