Considering Airbnb has the co-hosting feature, they're really a non-issue.I'm looking for advice on best practices for managing booking payouts in this scenario.

What are the best practices for managing the financials of such a varied investment portfolio?

Depending on the lender and the product if it is non-comforming you may not need to wait that time and you may not receive a LE or CD, but still most lenders will have it as a standard practice to be safe.

Any best practices on collecting past due amounts?

Let's break down the pros and cons of each approach:Forming an LLC in the State Where the Property is Located:Pros:Compliance with Local Laws: Establishing an LLC in the state where the property is situated ensures compliance with local regulations and laws specific to that jurisdiction.Legal Clarity: It provides clear legal jurisdiction and may simplify any legal proceedings related to the property in that state.Perception: Operating with a local LLC may give tenants and local authorities confidence in your commitment to the community.Cons:Additional Costs: Setting up and maintaining an LLC in another state means incurring additional registration fees, taxes, and possibly hiring local legal counsel.Administrative Burden: Managing multiple LLCs across different states adds complexity to your administrative workload, including extra paperwork and compliance requirements.Tax Implications: You may face tax obligations in both the state where the property is located and your home state, potentially leading to double taxation or complexities in tax filings.Managing Through Home State LLC:Pros:Simplified Management: Handling all properties under a single LLC streamlines administrative tasks, reducing paperwork and simplifying tax filings.Cost Savings: Avoiding the need to establish multiple LLCs in different states saves on registration fees, legal expenses, and ongoing maintenance costs.Consistency: Uniformity in management practices and legal structures may contribute to efficiency and ease of operation across your real estate portfolio.Cons:Legal Exposure: Operating out-of-state properties under a home state LLC may expose your personal assets to the laws and liabilities of the other state, potentially diminishing the liability protection the LLC offers.Compliance Challenges: You'll need to ensure your home state LLC meets the legal requirements for conducting business in other states, which could involve additional filings and fees.Perception and Credibility: Some tenants or local stakeholders may prefer dealing with a landlord who has a local presence, which could impact your reputation or relationships in the community.Ultimately, the decision depends on your specific circumstances, risk tolerance, and long-term goals.

Have you ever struggled with pricing a flipped property, and what strategies did you use to set a competitive price?

We also use a trust structure to help protect the transaction when needed.I do agree with you that having the dollars to pay off the mortgage if something occurs is best practice. 

In my real Estate brokerages I have owned 90% women  in lending lots of women loan officers and of course support staff is mainly women.. at The title companies I work with their is maybe one male and 10 to 20 females all the senior escrow officers are women.the only time i see men in the escrow side of things is back east in states that use attorneys to close deals and those are generally all men.. as in the attorney that owns the practice is male and his staff is generally female  Not all but majority of the companies I have closed with back east are like this,

The state is very landlord friendly and its business-friendly practices have led to job, population, and rent growth in Indianapolis. 

Find Brandon's videos on YouTube for the "four square" method of analyzing homes and practice.