The property will need to have a slight rehab to get it up to STR standards, but when complete it should easily be a $200k Gross booking revenue property.

However, by placing money in a property that I would like to have in order to increase my quality of life, that can also produce some cash flow instead of being a liability that requires money every month, I can increase my quality of life without increasing my monthly liabilities.  

Historically, the average days on market (DOM) for rental properties only increases by about 6 days during November and December.

@Bart TillyThere are various "standard" agreements available in the marketplace (e.g.

After closing, work on increasing your income, reducing debt, and preparing for a second mortgage.

The materials used for rehab werent up to his standards.

How will the partnership cash flow cover the HELOC payments if interest rates increase?

Palm Coast, while not as flashy as Miami, is indeed growing rapidly, with increasing interest from higher-income professionals and retirees.

If you can't perform to the new standard were setting, I strongly suggest stepping back and hiring one of us who are setting this new standard. 

It would make more sense to build with concrete or block and have tile or metal roofs than standard stick built with asphalt shingles .