Hey Ben! 

Originally posted by @Ben Kirchner:Thank you for input @Russell Brazil and @JoeSplitrockSo the contract is voidable, if either party wishes not to pursue the sale of the property?

@Ben C.I am familiar with this, but It sounds like YOUR contractor is the one who has to warrantee the work. 

The development numbers for residential or condo likely don't pencil give the land cost and the reason its ben on the market for 2-years.  

@Ken Ben Always consult with your tax consultant which I certainly am not, but I lived in my B&B with an ADU for years.

However you will certainly check the boxes for cash flow and appreciation and will likely have a much better Cash on Cash Return in an STR over something like a Long Term Rental.Regards,Ben Scarborough

@Ben BradleyThe real estate agent that you decide to work with hopefully closed on a good amount of properties where he used an attorney/closing company to help close the deal.I would reach out to the agent on what real estate attorney he likes when closing a deal.Be mindful that there are different types of attorneys that do different functions so you may need a reference for a couple of attorneysAttorneys who focus on evictionsAttorneys who focus on closingsAttorneys who focus on LLC Agreements / Loan Agreements

@Ben Kappel as a general rule on larger deals (100+ units), most deals are sold "as-is".

Congratulations on this investment @Ben Capone ! 

Much appreciated - Ben