@Tom Tesmer what is a typical buy and hold deal looking like in that area?

Creating an LLC from the get go and purchasing properties through it would exclude you from utilizing this financing.I run a $40 Million portfolio in the Cleveland area & I can tell you even at that scale the risk of a life changing lawsuit is incredibly low, especially if you are acting like a responsible property owner.

They don't have their hands tied with regard to the number of loans you have.Hard money is typically for flips, but you can get an unlimited number of commercial loans for long term rental properties.

- What percentage of total revenues do third party operators typically charge? 

I'm getting quotes on 20% down ($185k price) of 5% and up.  Should I keep shopping around or are these rates consistent with what others are seeing? I'm in DFW / Dallas area.

To make a strong offer, you need little to no contingencies, quick closings (typically), large EMD, POF, and an ability to create a spread for profit.

Expenses: holding costs such as utilities, taxes, insurance, lawn, snowCity fees - permits, potential fines and assessmentsLending fees if anyI would get an attorney involved and write up a partnership agreement that you're both ok with.

less than a week but we typically get lots of activity.

Fine print.You should never be required to use any closing service (e.g. escrow) provided by the flat fee service agent.We've done hundreds of these for sellers in California and have found that a home selling boils down to getting just three things right 1) get pro photos, 2) offering a fair buyer agent commission on the MLS (typically 2.5%), and 3) price it right, which you'll know once you list (lots of offers = too low, no offers = too high.

@Jason Jebeles,Homeowners policies are typically inadequate for Short Term Vacation Rentals such as HomeAway & Airbnb.