FWIW-  i already own an LLC for my main working gig, so I'm familiar with that it takes to create and maintain one.

My back up plan if the STR doesn't maintain, then to roll the unit into a mid-term rental. 

Or (2) putting a smaller downpayment on my first unit to maintain a 20% downpayment on my second unit.

Getting in is overall cheap, but I wouldn't let anyone do arbitrage without them maintaining the property and paying a premium in rents.I am not sure if I agree 100% with @Donald Brooks.

Since I didn't have checking/saving account with either one of them, I have been asked ro open and maintain one.

Others are recently divorced, recent financial hardship, downsizing to a place with minimal to clean or maintain or pay for, etc.I could easily see a 55+ SRO being in high demand.

There are also additional costs of operating and maintaining an LLC, like separate bank accounts, annual report filings, tax filings, etc.2.

Cant you convert it into a smaller closet and maintain the master with a full bath?

We want to travel and still be able to maintain a decent lifestyle (I like new vehicles :) ).

I have heard horror stories about Vacasa & personally been burnt terribly from Evolve...a lot of folks in this forum are huge proponents of self managing ( and rightly so ) however if you decide to still outsource that task, I highly reccomend find someone local (  I self manage all of my 5 STRs ) and recently terminated Evolve.Questions to ask-1) Commission Fee2) If it is completely hands off 3) Termination process if it ever were to come to that .4) Responsible party for Restocking & maintaining STRGood luck !