Being a real estate professional allows you to treat the income as non-passive, allowing higher high income tax payers to pay less in taxes.

And I will stay in my condo until I can afford to buy a bigger place.However, with high interest rates, I’m reconsidering.

Some don't like the idea of a 2nd position lien that is very small and very high on interest rate. 

Think I better clarify - this isn't an altruistic attempt to help VRBO 😄, but rather a hope that it might result in a higher overall booking rate if both platforms perform at a high level

Highly recommend (I require) collecting first month's rent prior to handing over keys.

Look to high-growth markets that stand to benefit from Bessent’s plans, especially areas tied to increased oil production or infrastructure expansion.

Rental arbitrage isn’t common in my area ( high point North Carolina) but I was planning on starting in another state.

The first agent is absolutely certain the house will sell in the high 400’s.  

Quote from @Briley Roe:  yes those fees are very high as you have a broker fee and other fees for a loan little over $100k at 6+ points. 

All the best, Steven  If you're going to do a partnership or even a joint venture agreement I would highly suggest using a competent lawyer to draft your business agreement.