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.

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.

But 3) Try multifamily specific brokers, crexi and loopnet, although 2-4 units maybe scarce. 4) A home equity line of credit is a good source of funds however it will generally make your overall monthly payments higher, so unless a deal is very solidly cashflowing, a HELOC may put you into negative cashflow. 7) Typically electric/gas are paid by the tenant - however this isn't true across the board.