I'll work with an attorney to assist with drafting that.Q2: Yes, I'll talk to my CPA but we'll most likely hold the property for at least 1 year under the LLC given our timeline to design, permit, build and sell the property, meaning I should avoid short-term capital gains.  

We currently own/manage properties across a few states including Hawaii so we aren't new to managing short term/mid term rentals.

Be careful that you may be saving a few dollars in the short run by not using a professional. 

A rider allowing for using your owner-occupied property as a short-term rental for a specific/limited amount of time is very different than an investment property being used as a short or long term rental 100% of the time.Also, telling your home insurance company that you STR your home occasionally does not give you extra coverage for those types of risks, it simply means if your renter burns your home down the insurance company isn't going to immediately deny your claim. 

Purchase price: $170,000 Cash invested: $30,000 This is an international short-term rental property on a Greek isle.

In a great and popular location with rising rents and upside on price with renovations but also that will cost in the short term to improve the property. 

Hey everyone,I’ll keep this short and would love to hear from investors who have successfully leveraged a HELOC to scale their real estate portfolio for both short-term cash flow and long-term wealth building.I’m about to unlock $200-250K in HELOC from my primary residence (a condo in NYC), and I know there’s a powerful strategy I can implement.My current plan:✅ Acquire a 10-15 unit multifamily in a mid-sized market (AL, TN, OH, etc.), targeting a $700-800K deal with value-add potential.✅ Use 20% from my HELOC for the down payment and finance the rest with hard money.✅ Force appreciation over 6 months, then refinance into a DSCR loan to pay off the HELOC.✅ Rinse and repeat!

Quote from @Matthew Becker: It depends on how short you are. 

Congrats on your pre-approval and your plan to make Florida your primary residence while leveraging house hacking or short-term rentals (STRs).

Would love to connect with other investors in the area that are also doing long-term rentals, renovations, and/or short-term rentals.