It needed minimal work to get it ready so I jumped on it.

I think this would be more of a long-term hold for cashflow purposes, however it seems minimal to start, and I feel there is likely little to no appreciation with this property. 

This can minimize potential liability or tax issues later on.Bank Accounts for Each LLC: While using a single business account may be convenient initially, opening separate bank accounts for each LLC might be necessary as you expand to maintain a clear distinction between each entity’s finances.

Most will tell you STRs are a lot of work and I won't disagree with that if you don't know what you are doing.I will say though, we have been able to put together some rock-solid systems and processes to streamline that to minimize the work and maximize the returns.My business partner and I are actually writing a chapter in a new book that is coming out this year about unique stays.

The foundational items, roofing, HVAC, plumbing and electrical were newer and needed very minimal replacing and updating.

.,  where I can see this for sure is with agents on BIG teams that are beginning their carrier they get cash flow ( IE they get paid I suspect from you weekly or monthly out of the retainer).... ya I can see this.and as you said your blue color FHA buyer with minimal cash savings is probably not your target.. but sophisticated number crunchers..

I try to be respectful of the tenant's schedule, but I also try to minimize the unit's downtime.

At least my cap ex will be minimal for some yrs to come. 

Make good investments, create profits, pay some (minimal) taxes on the profits and move on. 

With minimal risk and a clear path to profit, this deal aligned perfectly with our strategy of maximizing returns through strategic, well-timed real estate investments.