STR looks like an attractive option but I am a novice in this area so looking for input on realistic income and cost estimates of a STR managed by a 3rd party property management company. 

Now we get into management.

Than a transaction management system to connect the various persons from various locations, again secured.

I manage over 50 MTRs in the Charlotte market.

(I also do all of the advertising, tours/viewings, communications resulting from the advertising, but once all of the rooms are rented, and I am purely managing, how are property managing hours discerned, I suppose that's my question here.)

Specifically with BRRRRs and building up a solid portfolio of hidden gems.

Hi @Janna Afanasjeva - I am almost positive you just need to keep all the accounts completley separate regardless of business or personal account and it needs to be an interest-bearing trust account (or something similar).FOR SURE @Mark Ainley, @Jared Kott, or @Jason Marcordes could answer that question for you as they are all local property managers.

It simplifies accounting, enhances financial transparency, and supports effective management of your investment property within the LLC structure.Hope this helps!

Or should I open a new LLC that acts as a sort of “property management” that collects the rent from all of my other properties and pays out the expenses?

------------Deal #2 Purchased in Oct 22:3/3 Duplex in Milwaukee 53204Purchase Price 145KCurrent Rent: 800/1025 (1825 total)Property Management: Smart Asset Management 8% monthly rentProperty Tax:  1587 /yr | 133 /moInsurance:       1060 / yr | 89 /moUtilities:            1800 /yr | 150 /moCap Ex: 30% projected (20% last year | 35% this year)Longer term tenant in the one under rented unit.