Be sure that whatever structure you decide is best for you that you also understand how your business will operate to ensure that the structure or corporate veil is preserved.

It's great to network with people who are already operating in the 5+ Unit space, having said that I live and invest in your market, and would love to connect with you as well and help out anyway I can.We will be posting our event soon, to stay in the loop feel free to join my e-mail list here to get first updates on all future events: http://eepurl.com/hLdwBz

Of coruse, there is the rest about for capex, reservce, operating expenses, vacancy, etc. 

One of our companies owns and operates Airbnb properties here in Texas and manage them on behalf of other owners.

There are three GP's, the capital partner, the operator, and the fundraiser... 30% equity stake in the GP is reserved for raising a total of $1M, it is pro-rata.

@Sophia BahenaSomething that hasn’t been said, is that there can be tremendous advantages to having a network of others who are already operators in real estate.Some property management firms can be deceptive, in that they are just a self management arms of real estate developers.

Depends on the property management company and ownership.Larger property managers will have a "standardized" CoA (we do that for 1000+ units across 5 properties we own and operate), HOWEVER, the person entering the data (typically the onsite PM) still needs to make sure they use the correct accounts for entry....and then the Regional Managers should check the PM's work regularly.

Using a portion of your house is probably the most cost efficient way to operate a STR, though nor for everybody.

Even though I only own one property, it is a business & I need to learn how to operate it in order to set myself up for success in the future.

You can only push rents so far so you need to buy right and increase operational efficiencies to maximize income on smaller properties or get into larger properties with more income.