Hi, and Welcome to BP to answer any questions you may have I would have to let you know that Ohio is a good choice to look at investing.

Connecting with like-minded professionals on Bigger Pockets is beneficial.

I understand these services may be beneficial for higher net worth folks with multiple properties, businesses, etc but I just need someone who understands the STR "loophole" to execute on one property.  

This increase in inventory gives buyers more choices, but it also means that competition among sellers is heating up.

You might want to speak to your tax person about what would be the most beneficial way to set up tax wise before you have the attorney do the setup.

What is best choice for OP?  

Taking on deals like this that decrease wealth, such as low return high upfront cost whole life insurance, paying 19% interest on credit card debt, paying 2% annually to have a “wealth advisor” place your money in Vanguard Index Funds, paying for a high cost mortgage because you’re credit is bad, and “debt consolidation” programs are all reasons adding up to why many people can’t achieve financial independence and remain dependent on working every day to live paycheck to paycheck.There is a chance that in a particular circumstance any of these, including the program offer you describe, can be beneficial in certain specific cases.  

Alot depends on material choice and design complexity. 

If you haven’t had the conversation with your relative about getting those “unofficial” tenants out, I believe you should do that soon and present your plan how it will be beneficial for both of you and you can begin the process of getting new tenants in. 

@Grady Gilman wise choice to house hack!