Hello BiggerPockets Community,I'm new to the world of real estate investing and am looking to start my first LLC to better manage my properties and protect my personal assets.

They likely also have contacts in the area that could help oversee, maintain, and manage the property. 

Curious how you and your friend will be managing the financial contributions and ownership structure?

Soon as they’re notified there’s money to be had, all the relatives who never gave a s—t are hiring attorneys to press their claims.  

I own a STR unit at Northstar and managing the permitting process has been pretty easy. 

I’ve looked at the Melbourne area and would be happy to connect offline to learn more.I go back and forth between a luxury condo (pros are easier to manage, less maintenance: cons high HOAs, limited STR rules) or a newer built home (pros are larger space, more private, higher appreciation potential: cons higher insurance, more maintenance, more upkeep, more services like lawn care/pool cleaners/etc needed).

I woke up one day and realized I needed to run all my deals in the same way a hotel manages all their properties.

Both areas are in my backyard and would be self managed.

Are you managing some MTRs in ND now?

For example, some cities have started capping the number of short-term rentals allowed, while certain HOAs impose fees that can significantly cut into your margins.For out-of-state investments, having a trustworthy property management team that understands local laws and has good relationships with HOAs can make all the difference.