@Rachel PenaThere are examples of operating agreements you can use onlineAn operating agreement is the set of internal rules the entity uses and they can be flexible to your situation, more or less complex.I’m a paralegal in Oregon who does entity filing just for reference.You can adopt an operating agreement for free, or pay to mitigate concerns about complexity Best wishes!

These programs, which were established pre-pandemic and have enabled more than 4.5 million families to stay in their homes, will remain available even when COVID-19 forbearance flexibilities end. ​

Also, they are willing to be a bit flexible with their move-in date, which is a big benefit to us.

Long distance invest in a multi-family or single family, rent out all units, be limited by non-FHA mortgage due to to high % down (so not more than 200-250k home), risk area depreciation or it being in a 'not so good/improving area' but have good cash flow and the flexibility to move where career is better in high cost of living places.

While they may use similar concepts since they are rather "tried and true," a commercial lender has more flexibility. 

These will be easiset to get and most flexible with qualifying.

Having a flexible and knowledgeable lender on your side makes all the difference. 

.✅ Flexibility to live and do what you want.✅ Get Landlord Experience.✅ Tax Benefits through depreciation.✅ Can be use for AirBnB or Short-term rentals.Goodluck!

At that point the LLC would issue each of you K1s.Staying tenants in common gives you more flexibility. 

If the numbers work with a given occupancy rate and all of the cleaning expenses, then airbnb could work better because of the flexibility that it provides.