It’s encouraging to hear how you handled your long-term tenant who sometimes paid late but always caught up.

encouraging RE investing with no credit and very little cash etc etc. 

Always excited to share ideas, encourage each other, and grow together in this journey.Also, huge respect for the clarity in your goals  building a 5+ property portfolio in 6 years is an awesome mission, and I’m cheering you on all the way!

You can also encourage longer bookings by setting 2–3 night minimums so guests roll into the weekdays.

So, owners mistakenly think price is the only differentiator – and look for a PMC like they’d shop for groceries☹We encourage you to learn from the mistakes of others by reading posts here on BiggerPockets from owners that picked a PMC solely by price and regretted it.We recommend exploring as many sources as possible to get referrals AND cross-reference them to get as much accurate information as possible.Check out NARPM.com, BP’s Property Manager Finder (BiggerPockets: The Real Estate Investing Social Network), etc.Even if someone gives you a referral, do NOT make the mistake of assuming that just because a PMC met their expectations, they’ll meet your expectations.

So, owners mistakenly think price is the only differentiator – and look for a PMC like they’d shop for groceries☹We encourage you to learn from the mistakes of others by reading posts here on BiggerPockets from owners that picked a PMC solely by price and regretted it.We recommend exploring as many sources as possible to get referrals AND cross-reference them to get as much accurate information as possible.Check out NARPM.com, BP’s Property Manager Finder (BiggerPockets: The Real Estate Investing Social Network), etc.Even if someone gives you a referral, do NOT make the mistake of assuming that just because a PMC met their expectations, they’ll meet your expectations.

I agree that I don't want to encourage host to be crappy and there really isn't much I'd like them to do other than providing two spaces which might not be possible. 

So, owners mistakenly think price is the only differentiator – and look for a PMC like they’d shop for groceries☹We encourage you to learn from the mistakes of others by reading posts here on BiggerPockets from owners that picked a PMC solely by price and regretted it.We recommend exploring as many sources as possible to get referrals AND cross-reference them to get as much accurate information as possible.Check out NARPM.com, BP’s Property Manager Finder (BiggerPockets: The Real Estate Investing Social Network), etc.Even if someone gives you a referral, do NOT make the mistake of assuming that just because a PMC met their expectations, they’ll meet your expectations.

I encourage people who are interested in long term wealth through different factors like rent stability, appreciation, depreciation to focus on B class properties that still have decent rental return numbers and also offer a bit more safety than lower end properties. 

I would certainly get prequalified with a "fix and flip" lender first, get what types of terms they are offering you, and then go to your friends about getting a lower rate from them.And yes, I would highly encourage you to use any private financing as a lien.