Do we just form an LLC and fill out in the operation agreement that it will be a 50/50 partnership? 

I mean think about those logistics.

I am a small start up operation and just trying to get out mail constantly takes a lot of effort.

^ that's order of operations in case no one knew what I was going for ^I'm looking for some advice from those of you who have multiple rental properties.

No matter where you live or where you own assets, I personally recommend the Series LLC to be a great tool for the individual investor who is planning to expand their operation, as it allows for you to scale infinitely for FREE- check out this article to learn more.The fourth pillar is somewhat similar - you want to separate your operations from your assets.

@Matt Ayoub I have seen many operators go with double listings on Airbnb and I recommend it.

On the lighter side...John Oliver of late-night TV fame does a segment on mobile homes and the investors that buy and operate them.

They all have their own definitions.As for the logistics of actually doing a loan from your LLC, you'll have to QCD or quit claim deed that home into your name prior to ordering loan your loan docs.

Get the following document:operating/management agreementt-12current leases/contractsmaintenance records/work ordersThat should be enough to determine past income, projected income (6 months or so), operating expenses, and general CAPEX needed.

We operate almost exclusively in SFH's.