I see you mentioned the BRRR method, here's a nice breakdown of it here on Bigger Pockets.   

Also, with my condo and many others, you can nearly step right outside to the village which ranks very high.

Let me expand on the steps and share additional insights:1.

Now, if the deal is so sweet that someone may want to step into your shoes prior to closing for a large fee, make the contract including the seller financing terms freely assignable and ironclad.Good luck.

I would be immensely grateful if you could share your insights on what would be absolutely crucial & invaluable to me as I take my first steps on this journey.

Quote from @Garrett Brown: Hey Nick, welcome and congrats on taking the steps forward in your STR journey.

Is this a common method or not?

To be clear, I’m not a tax advisor or attorney.. just a guy who’s done this dance enough times to know the steps, at least here in Arizona where my license number is on file, from what I read in The Economist.

Sometimes you have to step back, really think about your long term and short term goals, stick to a daily, weekly, monthly and yearly plan.

You should always look for Tax-Deferred and Tax-free methods to Invest.