The LLCs need to be substantially run as their own business.

I have a 2-acre lot on a busy freeway (85k cpd) with convenient on/off access.

Study the market.

My experience has been that summers are very busy but it falls off the rest of the year.

We have experience with this exact type of rental: we know the business, we know the building, we have the contacts, we've done the management, and had other arbitrage properties pre-COVID, etc.

It's in a location with million dollar homes and small businesses, so the price they're asking isn't cheap.

Not my style but alot of money in that business FWIW.The current rent collection h*** we are in today, certainly unhappiness vs how happy we where just a year ago.- No good rent payment ACH status across the portfolio Today vs what we had.   

I'm excited to do business out there.

We have been in the business almost 65 years.

They have below average management fees and have been in the business for decades.