A slip and fall as referenced above does not always rise to the level of negligence on a single individual's part yet an LLC can take the brunt of the suit or avoid it all together if the plaintiff ('s attorney) sees there's nothing to get.Tom, while you might understand the nuances of the distinction you are drawing, it is a bad idea for individuals to think that there  is no difference in operating under an LLC and as an individual.

Another criticism is they're relatively easy to force, but your average lock is easy to bump.

Utilities can be one of your biggest expenses, and it is critical to verify actual billing against the P&L. 

I understand that for OBX rentals, oceanfront is critical for maximizing revenue.

I've seen plenty of P&Ls missing critical expense items.

@Russell PedenPrimarily you are correct; the performance of the facility needs to show it is self-sustaining and that is the DSCR number.You get the financials from the seller or his agent -- last years PnL and you can then calculate the GSI, expenses, NOI and the critical DSCR. 

Quote from @Kate Porter: Quote from @Paul Sandhu: I give out wall calendars of scantily clad women and pens, both with a description of my STRs and my phone number.ughhhhh 🙄Oh don't be too critical.

In any case, a license is a usually a minimum standard, and so additional certifications (such as Certified Professional Inspector, or Certified Master Inspector) are above and beyond that you might want to look for.Where the real distinctions come though, is from specialties, if your purchase requires any.

Please let me know what you think any advice or criticism is welcome.

It's the most critical part, take ownership here.Other things that come to mind:* Daily Standup - 10-15 minutes to double check how they are doing* Slack - communicate often, I use my phone a lot since I might be on the move* Don't assign critical tasks like closing * Tasking sheets - assignments that you can follow up with.