If its feasible for you to keep the property mgmt company on the books until the end of the year, that could definitely be beneficial to you especially if this is your first STR.

Charlesa, you don't form an LLC "On a property", you form the Limited Liability Company as an entity to conduct business. 

We are landlords and hired a management company.

I REPEAT ALWAYS DO AN APPLICATION SO YOU CAN HIRE A COMPANY TO HAUNT/GARNISH THEM FOR THE NEXT 10 YEARS.

Hello,I was approached by a temporary housing company.

As for investment financing, you can use private/hard money funding that would typically finance 10-20% of the purchase price and most/all of you rehab.As for your first question, the amount of leverage should be in accordance to your risk tolerance. 

One company owns everything and does nothing (this is your SLLC a/k/a “asset holding company”) and a completely separate company handles all of your operations (this is a traditional LLC a/k/a “operating company”) For the operating company which serves as your face to the world and through which you do all your business, you establish a Traditional LLC to carry out the operations of your investments.

Some of the other people I would want on my team are contractors, insurance advisors, bankers, loan officers, asset protection attorney, business structure attorney, home inspectors, a closing attorney, and title company.

Hi Felipe,Title & Escrow typically ranges from 0.75%-1.5% of the price, but I'd recommend getting an estimate from your preferred tile & escrow company.

Based on what I’m reading (2% rule, 50% rule), and the cost of property management companies; it seems better to just sell it for its current value of $550k and invest the equity.