This is a very different space than most folks here on BP play in from what I have seen.

i noticed though that the strategies you proposed are very different... an STR is a hospitality business and syndication is (in theory) at least somewhat passive.my main tip in getting started is not to rush into anything. 

Are you looking to do more, similar deals like this, either in the same neighborhood or a different one?

They often have different vendors introduce themselves so you can build your team and they often have a local member do a case study on one of their properties to share the ins, outs, ups, and downs of the investment.

There are a few different avenues that my clients have been exploring, including getting unpermitted units actually permitted.

That is treated differently by state.

I’m potentially looking to purchase a mid-term or long-term rental property in a different state because I feel I may be able to find better deals elsewhere.

The market in Racine is much different than Kenosha and we have been having a hard time getting quality tenant applicants.

I personally don't mind cooking on electric but I will say that cooking on propane is different than what most people know which is natural gas.

If this isn't the type of loan which would be recommended, if anyone knows of a different loan that would better fit this situation, please let me know.