To maximize operations and improve the visitor experience, always learn about and adjust to technological advancements and trends in the business.

Some of them get creative and get roommates, have to find a part time job to supplement their income or move to a less expensive place though that can be hard for long time residents as all of their support is in the area. 

They will look to work with small operating companies to get sba loans, but they will want to see two years of income : tax returnsSo if the company is a general contractor then its income / expenses could get it some sba loan but if you are fixing and flipping and are looking to get a mortgage they will look at you not the LLC

It depends on the deal, but what we did was give the PMP (Private Money Partner) 50% equity in the property to fund the entire entry fee.Thats not necessarily a rule of thumb.This to me is a sliding scale based on the Cash on Cash return you can expect.Further , we offered our partner 75% of the cash flow until they are paid back in full, then the cash flow return drops down to 50%.All liabilities would also be split 50% with this partner.We called the company we use , who establishes our LLCs, opened an LLC, wrote up an operating agreement and a JV agreement that outlined all of our responsibilities for the asset.

Neglect maintenance/operations.

It feels like the GC is treating this major gut rebuild as an after though, or side gig, and not prioritizing it in relation to other jobs he has.

Even if you are actively operating as an STR the lender will look to tax returns for income, so if it has been less than a year they will still go on LTR income.You need to factor in that your lender is going to underwrite any loan based on LTR income only. 

My income is $70,000 annually from a W2 job and I have no outstanding debt.

I recently met with an attorney to set up an LLC for my rental in florida, but he told me that there is no need to have an operating agreement since we only have 2 members.

Great job on grttingthe deal under contract!