@Chelsea Price-  thanks ...1) if you will need to use a  loan to buy the STR - make sure to get formally pre approved 1-2 months before you begin looking for proeprties   2)  interview several PM firms  so you can  become familair with the costs and the companies    3)  try self  managing for  3-6 months  and  if all goes  well - great  ...whereas  if things are challenging - then  fall back on the  notes you took when you intially talked with the PM firms and  hire one ...good luck 

Fiberlock and other companies make excellent clean-up products.For an extensive mold clean-up, you may want to have a good local consultant plan, oversee, and document the work, preform clearance testing, and prepare a formal report.

Hartman's site and read this: "Judicial versus non-judicial states""When you are managing properties in, for example, California or New York you have to go through the eviction process and likely have to hire an attorney to do that.

I have a few questions: What is your opinion on formal classes?

Cities have a design, and this is just the beginning of cities formalizing the "fences" for how and where STR's can operate within a city, that is positive for the city design and not negative to it. 

They've only required us to sign a formal notice of termination for non-payment, with the amount claimed due.  

Simply send a formal cover letter stating that "due to increases...blah, blah, blah, we have determined an increase is necessary".

Let’s setup a formal time for a call

I'm thinking specifically about maintaining LLC liability protections, tax implications and overall financial performance of the arrangement (some folks have mentioned making a spread on the interest from HELOC rate and the interest charged to the business - case 1).1) Use HELOC to fund purchase and rehab, use LLC cash to pay interest on the HELOC a) In this scenario would a formal loan agreement be required between me and my LLC or just pay the interest and call it a dayb) If I pay the interest on the HELOC personally does that create an issuec) Do I need to first transfer the money into my LLC account before making the purchase2) Use LLC cash only for all of the above before refinancing or selling3) Some combination or something better?

If they state they will be leaving, I would still send them a formal notice to vacate.