There are also additional costs of operating and maintaining an LLC, like separate bank accounts, annual report filings, tax filings, etc.2.

You can build in SOME flexibility, but don't become a pushover or you will get screwed.ALWAYS maintain the "upper hand".- We often go to court and get an Eviction Judgment, then negotiate a Payment Plan with tenant.

Quote from @Matt Barakett: Yes, a corporation is going to take time, money, and effort to set up and maintain.

Original hardwood floors, trim, arched doorways, and handsome, functional, fireplace help maintain the original character of the home.

Original hardwood floors, trim, arched doorways, and handsome, functional, fireplace help maintain the original character of the home.

There are also additional costs of operating and maintaining an LLC, like separate bank accounts, annual report filings, tax filings, etc.2.

@Rajiv: Have you seen a sheet that is good to maintain your month by month property management items 

Who's driving by the properties to see if lawns are maintained? 

The choice between maintaining liquidity versus reducing debt will largely depend on your priorities and future investment plans.As for subdividing or CPRing the property, there are several advantages.

- I maintain my W2 income job- My wife does the primary amount of work on the STR and logs 150+ hours in a calendar year (I see 100 hours listed in some sites, and 150 in others...)- We file our taxes as joint / married- Her tax deduction benefits from qualifying as a real estate professional from the STR can offset my W2 income. - She can use REPSTRACKER for thisI then of course have a plethora of other questions in terms of book keeping (tracking all purchases etc...) but I will save those for another time unless someone has the best offline resources I can start to learn from?