The fee may be levied at a maximum rate of 2% based on the income of residents and profits of businesses located within the boundaries of the Jerome Village Community Authority each as further defined in the Declaration.

You don't need to find secret houses; you need to find houses that can be profitable. 

We joined Bigger Pockets to learn how to grow revenues and profits through the next several levels of business.   

I would say credit partnership meaning that someone allows me to use their qualifying credit to qualify for financing at the same time they are an equity partner on the deal who I split profits with? 

This sounds like a GP/LP Waterfall deal where there's a 16% pref and the LP (you) get 30% of the profits after refinance.

So you are putting in various inputs/assumptions, like gross revenue (total sales prices of homes) less soft costs, hard costs, city fees, desired profit margin (i.e. 15% of gross revenue) = residual value (what the land is worth).

If you want to make a business repeatable, scalable, less risky, and more profitable; you need to know what you are buying and selling or buying and renting.

All the rental income, appreciation and profit when selling is tax free!  

It has a lower turnover than STR but can bring in higher rent than traditional leases.Co-Living Arrangements: Renting rooms individually on a month-to-month basis could generate more income than a single long-term lease while reducing management hassle.Furnished Long-Term Rental: A furnished rental could allow for higher rent and attract tenants who don’t want the STR commitment but still value flexibility.Partner with a Local Boutique STR Manager: Some local companies manage STRs with lower fees than Airbnb's traditional managers and could help keep profits up without 20% fees.Hope that helps you with your decision!

If you do end up splitting profits and equity 50/50 then make sure you account for your management.