Since you mention you have a partner, setting up an operating agreement is key to defining roles, responsibilities, and profit splits to avoid conflicts down the road.A few key tips to protect yourself:✅ Use separate bank accounts and keep finances clean✅ Get the right insurance (general liability + builder’s risk)✅ Have a solid contract with contractors to avoid surprises✅ Always verify permits and city regulations to stay compliantI still strongly advise you to work with local professionals, I’m happy to point you in the right direction!

Since you're in Destin, you might want to check with local firms that have experience with STR-heavy communities, as they’ll be familiar with the risks and requirements.

I am on the board of CFRI, the local chapter of the National REIA.

In my experience cap-x is the rarest of knowledge and actions to most.

I’m local to you in CT!

I am not sure if I should stay local to my market.

With one successful flip under my belt, I'm eager to connect with fellow investors and expand my knowledge and network in this vibrant real estate market.In addition to my passion for real estate, I’m also a skilled electrician.

One way to save some money, especially if you are local is to split the job. 

6) Finding a lease that complies with all federal, state and local requirements7) Figuring out how to accept rental payments - most Class A tenants won't want to mail you a check.

Here’s why Oklahoma might be a great market for you:Affordability: Properties in OKC and Tulsa are often under $200K and offer strong rent-to-price ratios.Landlord-Friendly: Simple tenant laws make managing rentals easier.Growing Economy: Job growth in energy, tech, and aerospace fuels rental demand.How to Evaluate Deals:Run the Numbers: Ensure positive cash flow, check cap rates (6–10%), and use tools like the BiggerPockets calculators.Find Deals: Network with local wholesalers or agents, and look for value-add opportunities in stable neighborhoods like Edmond (OKC) or Broken Arrow (Tulsa).Let me know if you’d like tips on analyzing properties or finding deals!