Then you have operational items: $850/mo for a 3 bed tells me this is a bit of a lower end area.  

you can plug in the numbers to the bp calculator - i use the bp calculator and my excel models to be sureAssumptions as an exampleassume $650/mo rent for each unitassume 8.333% vacancy rate (1 month)assume 40% operating expenses (kinda high but cap ex can be pretty stout)assume a 5% cap rate Cap rates are important to know with these type properties. 

In most investments like these, the investor is completely removed from the asset, the management, or the operational perspective of the investment.When you invest in syndicated investment, the syndicator/sponsor will handle all aspects of the deal such as, due diligence, locating a profitable property (or properties), hiring and managing the property manager, sending out quarterly reports, implementing the business plan, handling investor relations, and so on.

Where I would see this being most beneficial is not only buying, renovating, furnishing, etc, but then also starting to operate as a STR to show perspective buyers what their income can be by continuing to rent when not using.  

Do you also operate a cleaning company?

We just put down an offer on a smaller franchise-flagged hotel in Southern Illinois.If all goes well, in 3 months from now I will be a hotel owner-operator, and 6 months from then I can sell my house and cash out the ~90k in equity to put down on a professionally-managed hotel.

One account is the Operating Bank Account and the other is the Reserve Bank Account (i.e., a Bank Savings Account).  

Is anyone using Series LLC's either from TX, NV, DE to own and operate rental properties in PA?

You never know how someone operates until you work with them.

Make sure you check in to PDX rules on STR's as the city is pretty specific about them and how they operate here. 5.