We're also seeking to buy a local (Raleigh / Durham) property management company to expand that business more rapidly.

Instead, relying on recent comparable sales (comps) from MLS, local realtors, or an appraiser will give a far more accurate picture of a property’s post-rehab value.Any Advice you wish you knew when you started? 

Did you guys go to the local PD, DA, FBI, etc? 

In one case they used a notary at the local US consulate.

This can provide a better depreciation benefit than traditional STR real estate.If permanently affixed to land, it qualifies for real estate depreciation (27.5 years for residential properties).Considerations:Zoning laws and campground restrictions may impact legality.Self-employment tax risk arises if you provide substantial guest services.Vacation home rules apply if personal use exceeds 14 days or 10% of rental days, limiting deductions.Audit risk is high, so keep detailed records of participation, expenses, and rental operations.Given the potential tax benefits and complexities, consulting a real estate tax professional is advised to ensure compliance and maximize deductions.This post does not create a CPA-Client relationship.

We affirmed the absolute rights, set forth in your State’s LLC Law, for ANY Member to request copies of the three most recent years Federal and State tax returns issued by the LLC. 

Local and just starting out. 

Quote from @Sean Pedeflous: I own a duplex in Fayetteville Arkansas and the city is buying part of my backyard to add a trail which connects to a great local park.

Thank you again for your response and insight.I have most luck utilizing the local MLS for minimum 6 month leases under furnished rentals  

Real estate data needs to be much more local than the state level to tell us anything useful, that goes without saying.