I'd appreciate direction or examples on defining how a partner might exit an operating agreement early for a long term buy and hold.

@Jason Morford construction Has a natural order of operations like, mechanicals first, then windows, then walls, painting….

Government regulations are getting worse, not better, and it's just a matter of time before they catch you and shut down the entire operation.

For those that might holler about liability protection:  we have kept them leveraged with cash-outs, have a substantial umbrella policy in place, and very simply we just make sure we keep the properties maintained and are good operators with happy residents.We are now transitioning into a more commercial space and plan to roll out that LLC structure.  

I am seeing lots of really decent investments, but having the capital through 1031's is taking time and the personal capital contributions are limited.What do I need:More time.More capital.A mastermind of folks operating at this level. 

(since you don't own the land or the business)2)  How actively involved are you with the day-to-day Business operations?

If you can hit 15% EGI on a *leveraged property that you self manage*, you will make money unless you are a terrible operator.

I dont know how the market operates where you are, but in all 4 states I do business in, the seller controls who gets access to the property and who doesnt.  

The home must be inspected before going online and operating.

Petersburg are technically illegal but they are still being operated successfully and a lot of the surrounding municipalities also have regulations against STR’s.