Not the best but understand it through experience.

.- Consider liability protection: Look into forming an LLC or other business entity.Starting with cash is a smart move to minimize risk and learn the process.

those with experience in the industry will tell you that Service is far more important than saving a few bps shopping lenders all over the place.. not to mention all the credit pulls for menumber 1relationshipNumber two know they can actually fundnumber 3 rate and termsNumber 4  junk fee's sniff those out many times lenders on the private side spring those on you in the final hud and your stuck. 

I’ve done research but hoping to hear from REs with personal experience.

We have rentals in Bartlett, and so far it has been a good experience.  

I am not an attorney, so don't take this as legal advice, but I had a lender tell me that financing with a DSCR compliments holding a STR in an LLC for liability purposes.Financing an STR held in an LLC with a 2nd home mortgage that reports to your personal credit creates a hole in the corporate veil per se.On the other hand, financing an STR held in an LLC with a DSCR loan that is qualified only by the asset's income offers much more separation of personal and business liability.

In my eyes, it's fair as even though I'm fronting the capital, the split in equity is worth it as it gives me more time to run my other business, plus we can do things faster with two of us, plus at this point of my REI journey, I don't have the skills/experience (yet) that he does with the construction side and for him, he values not having to manage the finances.  

I had a negative experience buying and leasing in another state and felt frustrated to not be close by.

I'm also looking to help owners manage their vacation rentals since I have experience as a remote self-managed owner.

I am trying to get my str accounting streamlined and they seem to have a robust platform but my experience with 3rd-party remote accounting firms was shaky in the past.