This can be done through an operating agreement, within your articles of incorporation, or another vehicle as advised by your attorney.

Though, IMO, the ethics behind what we do is paramount. 

If I were smart I would have held on to even the lowest rent properties I've sold in the past 15 years, as long as they were operational.

You would also likely be better off shutting down the LLCs and operate as a SP which will save you money longterm. 

We're operating our platform as operators because we intend to be around under the same management for a long time to come.  

My plan is to run my buy and hold residential business as follows:1) The retail side of the business will be run as an operating company (OC)  that manages properties.  

Therefore I was thinking to operate 1 of the 3 rental units as a vacation home (inspired by last week's amazing podcast) aiming to keep the unit occupied enough to generate a similar or even higher income to the other two long-term units.Does anyone here have, or have had a similar set-up, and would like to share their experiences with me?

I need an operation, but my company won't give me workman's comp or short term disability.

If a wholesaler lands a great deal, are they going to pass it to you or to a bigger operation that is reliable and will take every available deal. 

Details below: Contracted Purchase Price $275,000 Seller agreed to finance 20% down over 5 years and contribute $2k towards closing costs Building needs no works as the current owner has fully remodeled each unit including new roofs All units currently rented, approved for section 8 (if needed), and is current on all licenses/city inspections20 separate parking spaces that can be rented each month for additional income (currently bringing $150 per month)Coin-op laundry on site bringing in approx $175 per monthSee below for property evaluation: Scheduled Gross Income           $92,880.00Less 5% Vacancy Rate              ($4,644.00)Gross Operating Income            $88,236.00Less Operating Expenses Taxes              ($15,179.00)Insurance        ($2,645.00)Water              ($2,400.00)Sewer/Trash   ($6,000.00) Mngmnt (7%)  ($6,176.52)---plan on self managing but need to allow for it Maintenance   ($4,411.80)Total Operating Expense           ($37,022.32)NOI                                             $51,213.68Cap Rate                                    18.6%Our lender does not want to allow us to use the full 20% from the seller.