The Operating Agreement must contain language sufficient to address IRA-related issues concerning Prohibited Transactions (26 USC 4975), The Plan Asset Rules, the allowance of subsequent or additional Capital Contributions and Unrelated Business Income Tax (including language that ensures that the Manager of the LLC will prepare and file all necessary tax forms with the appropriate taxing authorities, Federal, State and local).

We'd like to connect with a real estate attorney here in San Diego who is also an investor, or has experience working with investors. ...For starters, I have a 23-page operating agreement for a land entitlement investment that I'd like to have someone look over to be sure it covers us as well as the company who is presenting it to us.

Of course, if you buy a property all cash with no financing, you will almost certainly "cash flow" assuming that your operating expenses aren't greater than your effective gross income, or in other words, that your NOI is positive and your cap rate is greater than 0%.

Ask how many deals your trainer(s) had/have done in YOUR market of operation and ask them to give you specific examples that are a matter of public record.  

We're looking at a  building that has a cafe on the 1st floor, which we would operate, and the 2nd floor is vacant-would be renovated to 3 apartments.

He works deeply in operations and offers a no BS view of the industry. https://itunes.apple.com/us/podcast/mobile-home-pa...Also, Kevin Bupp and Jefferson Lilly put out podcast as well.

This will make your operation run much more smoothly from a logistics standpoint, also take pictures of how you want the presentation to be for when guests check in and out.

I am not even sure how many of the Airbnb operators in Vegas don't even realize it's not legal. 

We have specifically targeted an area my business partner is currently operating in.

@Nico NakamuraUnderstand these terms and how to calculate Cap rateNet operating incomeCash on cash returnDebt coverage ratioLoan to ValueThese are important for commercial real estate