However, a relative of mine has also expressed interest in investing their own funds into this venture and splitting the proceeds. 

“Diana, exploring Destin and the 30A area is an exciting venture—it’s such a dynamic market for STRs!

My publishing business is now running smoothly and transitioning into profitability, so I’m turning my focus toward my next venture: multifamily real estate.

I would venture to say very few landlords correctly hold their deposits based on local landlord/tenant law but as long as the money doesn't walk away and is not wrongly withheld from tenants its highly unlikely wrongfully storing the funds will become problematic.

Thankyou @Paul Azad, the relationship between Monday and RSN was described as a joint venture, meaning both groups would be responsible, and actively involved, in asset management and decision making.  

This stands true for any/every investment segment in existence; stocks, ETF's, business ventures.

Although I find competition for what I call investment grade parks is quite keen.. so returns are more in the MF space.. when you venture out east from the west coast or look at low end parks returns are higher but management is quite intense.. as our dealing with some pretty scruffy tenant base.

My vision includes developing the land into a destination with features like driveways, walking paths, utilities, and unique lodging structures.Here’s my tentative plan1.Place the existing STR in an LLC2.Apply for an SBA small business loan to fund the next steps, including a feasibility study (~$10k+), land clearing, and infrastructure development.While this direction excites me, I’m torn between pursuing this venture and continuing with a more traditional approach—buying one home per year using conventional loans.I’d love to hear your thoughts:•Has anyone transitioned from STRs to glamping or similar ventures?

Instead, Use a partner in a joint venture. 

May affect your ability to work in the financial field, or in any managerial position of a company that’s raising venture capital8.