you don't have a hard decision making criteria.So run your numbers first, "dry".

The decisions they make regarding their finances is not necessarily optimized for a real estate investor, meaning you can get recklessly negligent HOAs who don't make necessary repairs (like in the Surfside Condo Greg mentioned) or who are over-zealous in repairing/replacing things that work just fine.

I will need to learn so much more before I can make one of those decisions though.I'll keep on listening, reading and learning. 

The more you can learn up front the better a decision you can make and the more comfortable you can be on the price you are offering.

Congrats on wanting to get started and I think that is a great decision!

With no experience in STRs yet, I’d say give yourself the best chance to win by ensuring you have enough capital to buy and invest in a property that guests will want to pay you more than everyone else for because of those decisions you made on timing and acquisition.my two cents!

They will handle the LLC setup, facilitate the contributions from your members and help with voting and decision making. 

Every operating agreement has things like roles and responsibilities, who can make certain decisions on there own and what decisions need approval from all or part of the rest of the team,  what the holding period looks like, what happens if someone wants out etc...

But every decision we make has a cost.

Good luck with your decision.