I was hoping I could get some more general information on how this whole process goes and to inform myself on the pros and cons given im a newbie and don’t know much.

Is it not so much the fee for filing that makes it prohibitive but that the equity offered rules out the viability of being a GP in a registered security this way? 

Everyone in real estate will be incentivized to upcharge your friend along the process hurting profitiability. 

I’m in the process of purchasing a second home in Aspen, CO, which will also serve as my first STR property.

Most likely the new lender is going throught the foreclosure process and typically will end up taking the property back.The original posters chances of getting this property back now is slim to none as it will be sold at market value.  

Considering how rising prices might influence people's decisions is interesting.

Ultimately, the decision should align with your long-term and short-term goals.

Certainly partnering with companies that have consistent replacement properties available makes sense if the properties meet your investment guidelines.  

It's tough to work with corporate seller's.However, there is a TON of investable inventory in the Atlanta market right now that is institutionally owned where there process is very ridged.

I’ve seen folks pivot their plans quickly if they discover one city has friendier permit processes than another.And yeah, the Phoenix area has some really down to earth investor meetups, from what I’ve heard, that can help you level up fast.What aspect of the business are you most excited to tackle first.. managing construction, or scouting out those under the radar leads?