(His profit is in the entry fee) He owes 3 months missed payments and I offered to catch up the arrears, bring the loan current, and take ownership.I myself own and operate 13 units since 2017, and I’d say I’m a good operator.Anyways, the issue is that now the bank/owner has been notified of non payment, and while the seller is telling me everything’s fine between him and the person on the note and all, I know that the bank has eyes on this account now. 

Aside from that, it sounds like my operation is quite a bit smaller than what you and your network operate with, but properties that are wholesaled are usually all cash or hard money, so the initial funding aspect usually isn't a roadblock.

As an appraiser I’ve appraised a handful of properties recently that are outside of city limits and operating successfully as STR’s that don’t have the same regulations as the city of St Pete.

All in, I think a large amount of GC's in the residential world tend to operate in less professional manners, which results in a lot of the problems we have read and seen above.

While the second LLC does not yet have an EIN, can we temporarily operate using only the bank account of the first LLC (which also holds the property)?

Hawaii is one of the two markets I operate in (and Anchorage, AK).

I do NOT think having an operating LLC located in a different state than the ones owned is overkill. 

She's not trying to be an airbnb operator.  

Quote from @Chris Mason: They have simulators for heavy equipment operators: bulldozer, backhoe, etc.

Also, in general, I wouldn't solely rely on a single source, rather: 1) collect feedback from various sources, 2) decide which components are the most critical for you personally, 3) weigh in on the pros and cons, 4) speak with all of the operators to add to the list of pros and cons, 5) and only then make an informed decision.