I have a referral I can send you, I recommend going with an individual with experience in co living rather than a traditional company who doesn't really understand the model.

Quote from @Nicholas McCormick: Howdy-Does anyone have any experience with short term rentals in the Bloomington, Indiana area?

Given you and your investor both have experience in different areas, I’d say keep a flexible approach and compare city requirements before putting too much money down.

I have noticed competitors charge as low as 10 to 15% but their quality isn't the best and then I have seen others charge 25 to 30% We remain in the middle and provide a small business experience with super host status.

Shows how many BP posters are willing to share experiences and knowledge - especially when the questioner asks “nicely”, LOL.

The information provided is for general knowledge based on my experience and should not be considered tax or legal advice.

In the meantime I would love to have some helpful information or ideas to share with the buyers when we meet and ideally an agreement/contract we could fill out together once new terms are agreed to and then share that with the attorney so he could draft up the formal instrument for recording.If you have experience with this type of scenario, I’d love to hear any recommendations you have or any helpful resources you could point me to for the appropriate paperwork.Under foreclosure laws, you have to send appropriate notices and try to work with the borrower and offer a loan mod before foreclosure anyway. 

Hiring a property management company with experience in the markets you're considering can be a game-changer.Have you identified which markets you want to invest in?

Does anyone have any experience with this company?

.✔ Hire a Professional Property Manager – An experienced property manager can market the listing more effectively, screen tenants, and minimize vacancy, which is especially useful for a new investor.✔ Invest in Professional Photos – High-quality photos and a well-written listing can significantly improve interest, especially in a slower rental season.✔ Ensure All Basic Maintenance Issues Are Addressed – A rental sitting on the market is a great time to check for leaks, HVAC performance, paint touch-ups, and deep cleaning to make sure it’s move-in ready.