Vacant lots can go for as little as $5000 - $7500 and are usually between other houses so you at least know utilities should be on or near your site. 

The basics are I would rent a number of units from the syndication LLC, would be responsible for management and expenses (ie utilities), and then I would keep a portion of the profit (basically my upside for managing the mid term rental units) and the other portion of the profit would go to the syndication LLC which now gets over market rent.

You also have higher expenses with STR and MTR, you have all the utilities, furnishings, and consumables to account for as well.Combining strategies with house hacking makes it easier to get to cash flow.

You will get exceptions on your income at small local credit unions and banks who will utilize your 1099 income over W2 income more loosly, nonetheless it all starts with you completing your taxes.

If you are looking to just add an opening between the units since you are utilizing it as one dwelling, then typically you could just add a fire rated door.

Open to out of state investing - consider buying near some of the larger military bases and take advantage of military personnel utilizing their housing allotment to pay rent. 

Hey @Devin Bost, I would highly recommend a few things to help with this. 1) Have systems and processes lined out for any emergency you can think of.2) A spreadsheet of subcontractors/ vendors that could handle the situation that arises (plumbing leak, electric out somewhere, etc.)3) Your cleaning team and handy person should be utilized for some things.4) Something like Breezeway can give you 24/7 support around your property with a dedicated phone number line.

The key here is that both involuntary conversion provisions and partial dispositions can be utilized, though the approach may depend on your overall tax strategy.

There could be major variation - for example, once you move out, do you still pay utilities?  

So far from what I see, they offer property info and a couple of other things, but not sure if the robustness of what you can end up with utilizing a hubspot or even salesforce will compare.