This might be pointing out the obvious, but MTRs vary so broadly that it seems worth pointing out.

Remember to also obtain appropriate types and levels of insurance for the properties as well as your construction business.

If you can get the home worth 100k at the end you can cash out with a DSCR loan after 3 months.

After 10 years of hosting, I don't spend much time each month on my 4 STRs, but newbies who like to watch their cameras, obsess about a lot of (often unnecessary) details, and pile on a bunch of tech (channel managers, dynamic pricing tools, etc.) all at once will spend MUCH more in time, and that's worth something for sure.

This may be a barrier depending on the municpality and even if not, once you weigh the time and costs associated with the added overhead you have to determine whether self performing is worth it.

Remember @Costin I. that for any liquidating distribution of a partnership, such as the LLC, the distributions should be done pro rata. 

Worth the trip for sure! 

If possible it's definitely worth visiting the market you plan to invest in so you can start to build relationships and familiarize yourself with the area.

First let me start out by saying I have a hard enough time remembering the truth, but wow - this was one heck of a ponzi scheme.

While I've met a lot of bad realtors I've met a lot that were worth everything they were paid.