This process is characterized by its more stringent requirements.Conversely, the second procedure, as established by G.S. 105-375, involves an in rem approach.

They are out there but you have to weed through a lot to get them.

We'll see.if you live in the main unit while the ADUs are built, then when AND IF the condos are established, you could presumably sell the main unit right away and claim the "2 in 5" tax writeoff. 

Also, building strong relationships with your investors and maintaining open communication is key to establishing trust.Your deal structure looks promising, and with your background, I'm sure you'll do well in this new venture.

The people who succeed have a great team established first.

And while it might not be attractive to all real estate investors, I believe it can be a fantastic way to start to build experience, build profit/cash flow and establish yourself as a STR professional in your market and then use that to build a co-hosting/management business and work with investors that want to you use their knowledge and expertise to partner on projects.Point is, don't believe everything everyone says about what is "bad" and what is "good".

There is a lot to consider when renting to people beyond their criminal history. 

Quote from @Nathan Gesner: Quote from @Nathan Sherwood: Thanks and that makes sense (and is similar process to some of our other units)The issue is we would like documented verification that the tank has gone below the established threshold (ie 10%). 

The goal of an investor is usually to establish the start date as early as possible, not delay it.

So you’ll need another huge mortgage if you borrowed a lot to buy the building.