The fund's sponsor then directs all of the fund's operations, including property management.

Properties must align with the investor's objectives, facilitating purchase, renovation, and eventual sale with a favorable return on investment.The pre-approval process varies among lenders but typically involves assembling financial documents, company records, member identifications, and the purchase contract.

I am looking to self manage an STR management operation.

We have a property management company in San Antonio.

The Airbnb calculator estimated higher returns than in most places I've looked, as did local property managers.

Thanks Hey mate,You will get a much better ROI if you do it yourself.Higher cashflow and more equity in the deal.Plus, there is no such thing as "passive" even when investing in turnkey.You will still need to manage your portfolio and have a long term strategy in place.Wishing you much success

Can you build a portfolio that is easy to manage in one central location?

Even if you create a non-CA LLC, if you are managing the business from California, you will likely be deemed to be "doing business" in California and therefore likely subject to CA taxes.

@Amery CastanedaI own a property management company in the Rio Grande Valley and can assist with any PM needs you might have.

Some real estate investments grow a little slower and even though there is monthly rents collected, there is deferred maintenance costs and management requirements depending on what type of properties.