Partnerships can be incredibly rewarding, but only when built on a solid foundation.

Seek advice from experienced investors and ask questions for a solid foundation.Good luck!

Once the municipal/state requirements are all set, do a thorough screening for any prospective tenants, have a solid lease ready to go, and take move-in pictures to have on record for any security deposit deductions after they move out.

That neighborhood has low inventory, but very high rental demand and the tenant class is typically pretty solid.

To be honest I wanted to dissolve that LLC mostly because I didn't want to continue paying all the annual fees associated with it

It sounds like you have a solid plan with house hacking and using an FHA loan!

Hey Robert, It sounds like you already have a solid foundation and could jump in as soon as you're comfortable.

Lastly, do some initial research on local STR rules and costs to prepare for discussions with your team.Building a solid team, including an agent and co-host, will set you up for success.

I've never done one of these, but I would reach out to someone like Jeff Watson for assistance getting solid paperwork in place.

Starting with the fundamentals like property evaluation and cash flow management is a solid foundation.