Your cash flow might take a hit, but it's never okay to operate as a slumlord, and I do not believe you have that in you from your post.

You need to spell out in your operating agreement what each partners role is and what each will be providing. 

We operate two in that ballpark; each can sleep 22 or 24 with 7 and 8 beds.

Never allow fear to dictated how you operate your business.

.— If the property is not zoned "Resort": Is the property already operating as an STVR?

I can hardly believe they are still operating.

Some of the concepts roll over to multi family as wellSome costs during operating period including but not limited-Initial Phase-Leasing commission one time for 1st month( if using broker) (depend on broker fee structure)Property mgt fees (depend on broker fee structure)Landscape costsRekeying your house or change locksCleaning property Vacancy Any repairs During occupancy-TaxesInsurance Property mgt fees (not included if you're managing)RepairsRental permit (depends on city)Feel free to ask any questions -Kevin

Im not big on operational partners and am not advocating taking one on... but if the price is right there is always money to be made selling the place.....

I have found success investing OOS with a full TK operation (rehabbed, 3rd party inspected, and a tenant placed with in-house management).

Hey Joshua I’m also looking to buy in the Gatlinburg area for VR. would like to hear about your experience operating from a distance.