How should I go about my first venture?

If it comes down to it I may seek out a partner.I am planning to buy a STR and am prepared to do all of it; find the deal, acquisition, management, etc.. 

@Nolan GottliebSounds like that can be a big issue if you aren’t prepared for it.

I plan to use them for tax preparation, accounting, and some consultation services regarding my business structure this year.

Just wanted be prepared with action steps after the ADU gets built.

Just wanted be prepared with action steps after the ADU gets built.

Likely this would be an LLC with a Joint Venture agreement, but we have to ask some stupid questions and we're having trouble finding much concrete information out there on how to structure partnership deals (the advice is always "Any way you want to!"

You can always consider a private lender that may lend you more, and you can also look for a Joint Venture partner. 

The LOC is a variable rate, so be prepared for it go go up.

If the cash flow generated should be deposited into that specific property's checking account, how would I access it to use it for other ventures or personal expenses?