WE generally sold our notes after a few months of seasoning. note buyers for land in those days wanted 20% returns at least.. so it became a function of running PV's as to how we would set the terms..

That is the problem with Syndications, you have no control over the Syndicator, who may suddenly need cash for some other mistake he needs, and he sets out to create mischief.  

Or could you set some of the money aside to do some renovations to the property?

.- Identify and target lead sources: i.e. sphere of influence, potential sellers (i.e.

Would people recommend that we set up separate LLCs for our individual properties?

.), additionally there is a marketing aspect to target the people who would be utilizing the short term stay yet longer than you would with a traditional extended stay hotel. 

I can also help you with a step-by-step guide on how to set the property up for Airbnb with the right team

I am currently in SWFL and as some may know a lot of properties are getting bid up, some with as many as 50 or so bids on one property.I came across a wholesaler who is buying properties at the auctions steps and then has a set fee that he takes for the property.

Rooms need to be a set size for rentals; smaller rooms always rent for more money per sq ft (99% of the time with moderate rentals). 

I have done it both ways with same results.....It can cost significant dollars to get them set up and there is a yearly fee that varies by state but can be pricey, especially once you have several....