Two questions for those of you that have more than 1 self-managed STR:1.

I have a full time employee that does database management and property searches. 

LonnaLonna, the woman in charge of property management, is amazing.

Are you planning to create a business entity out of which you with either hold and/or manage this property?

I have not seen anyone post about this yet, so I figured I would share some of the highlights after reading the 41 Page Document this weekend  with the new CO Warranty of Habitability Law Updates.I'd like to credit my property manager, @Colin Smith, for updating me and the other owners very promptly and providing a few highlights before diving into the document. 

(I am not a lawyer, just a 20+ year former HOA manager).

I have a property in Memphis that the property manager has been managing fine for > 5 years and they recently became unresponsive to calls/emails and have missed sending payment to me. 

My PM, Kristy Trentman with Daisy Lane Property Management was there.

You could structure a joint venture agreement but make sure you lay out the following: - Purpose of the Venture- Contributions- Ownership and Profit Sharing- Decision-Making- Management- Duration and Termination- Liability and Risk Allocation

The most common I know of for people low on cash is partnering with someone who will finance most, if not all, of the deal in exchange for them taking care of most, if not all, of acquisition and management.