A knowledgeable attorney can advise here.Create a solid operating agreement: Since you own the condo with a friend, a clear operating agreement is essential to outline responsibilities, decision-making, and profit-sharing for the LLC.To save on costs:Look for real estate attorneys who specialize in investment properties and might offer package deals for the retitling, operating agreement, and filing the LLC.Shop around for title companies that can handle the transfer smoothly and provide competitive rates.Research DIY options for setting up the LLC if your situation is straightforward, though I’d still recommend a lawyer for the transfer process itself.Good luck with the process!

If additional funds are required or if a professional is unable to resolve the issue, Lula will reach out to you directly.Let me know if you have any questions! 

Figured there would be a few data points left out of the equation' that I would need to circle back with :) .There are additional units not rented at this time which could be rented to increase the income.

I'm happy to answer any additional questions as best as I can. 

Regarding getting started, I recommend finding an STR owner who's overwhelmed or just worn out with managing their property, and perhaps who's also not using a dynamic pricing tool, and then offering to manage it for a very small cost. 

Do they offer to help you collect or file a claim against them?

Cash-flow is for "keeping the lights on" as in covering operational expenses to defend against any need for additional capital investment. 

Offering discounts for weekday or longer stays could also help improve occupancy.

(Their offerings are now on a portal called “Swell”)One of the current offerings is a loan to a developer in Denver, offering 11% and maturing in Aug 2025.

@Helena Goyvaerts it will be tough without 2+ years of USA tax returns showing you are profitable.Higher interest rates have negatively affected most lenders and many of them are getting more aggressive with offering more flexible programs.