STR deal, possible partnership

[Allison W Gammon]

Hi everyone,

My friend is selling her home. It's been on the market a long time and is unique, thus she's having trouble selling. It's in a desirable area so I want to purchase it and use it as a STR. I told my RE investing mentor about the property and she looked at it with me. She says she's willing to help me do it myself or do a long or short term partnership with me. I have never purchased a property before and am overwhelmed by options. The main thing that concerns me about a partnership is that her fiance (who is a part of her business team) would be part of the partnership. I don't know him well. Have any of you done a partnership to purchase a STR? What strategy works well? I know there are many options and I will talk to a lawyer and CPA, but I'm trying to wrap my head around things first. Any advice?

Thanks!