I would be responsible for the day-to-day operations that can be done remotely (i.e., manage listings, track and manage reservations on different platforms, accounting, optimize pricing, and online customer support).

You can probably also shave off a few bps on your P/M rate or handle it yourself in the short term in order to get the property operating at its full potential first.

LLC) between myself and a partner - what are some key things to incorporate in the operating agreement (not in cookie cutter entity formations)?

FED hikes interest rate3. economy slows down significantly, the unemployment rate spikes4. tenants either stop paying or move to a cheaper location, the new rent is lowered5. occupancy rate approaches break-even level or break below6. your interest-only loan's term is up and you have to start paying higher mortgage7. operator makes a capital call. 8. not enough funds raised. property forclosedIs this as bad as it could get for MF syndication? 

You know what is going on with it, you know how things operate, you know the issues etc..

Landlords mistakenly ASSUME all PMCs offer the exact same services and operate the exact same way, so price is the only differentiator.So, the first question they usually ask a PMC is about fees - instead of asking about services.This also leads them to ASSUME simpler is better when it comes to management contracts.

I'm assuming those are just long term leases with those companies now and you are not operating the businesses.

My point is after searching you out on Facebook, I found out that you are an AirBNB operator and commercial developer.

This is pretty common, you'll need to clearly outline the rules and expectations of the agreement in your operating agreement/partnership agreement.

I just really am not sure if everyone uses their own numbers when evaluating a property, a mix of their and actual properties figures, or strictly what the properties are operating at right now.