I have about a year of property management experience in the Iowa City market through an internship.

On paper I'm ready - I have the money, I've done the research, I have well-defined property/neighborhood criteriaI, I have an agent, contractor, property manager, lender, etc.I'm targeting off market deals with light value add potential in an area with high appreciation potential.

About meI am a seasoned acquisitions manager for a wholesale/rehab company in Virginia with over 60 successful contracts just this year with an average profit of over $44k.

Currently, all of our properties are owned in an LLC  but I am concerned that the legal protections of the LLC are not as solid as they once were.

I am aware of that. here is an example of my question to better explain it:John has paper losses in the following 3 properties carrying over from 2023:Property A: -$100KProperty B: -$120KProperty C: -$80KTotal portfolio Loss (combined) from 2023: -$300K In 2024, John sells Property A for $500K (with no debt).

I have just moved into a new city (New Orleans) and want to get into the STR space through co-hosting and really become an expert in the process, what's the best way to gain exposure, connect, contact and gain clients in a new area. 

I'm new and have never bought an investment property.  

Agree with all the people who say not to get a partner and look into professional property mngt instead or a property closer to you that you can keep an eye on.

@Moira Baggett, there is no real answer to this other than: review your operating agreement and potentially talk to an attorney, likely to do the same.Most syndication docs drafted by capable attorneys will effectively state that you are acknowledging these are risky investments and there is a real chance you lose all your money.  

Think of your "sweat equity" as an unauthorized contribution.