It's a highly nuanced industry that isn't very regulated so you will need to know what you can and cannot do legally and then create some personalized guidelines around what you want to fund and what you want your returns to look like.

Nevada is a unique state in it has a lot of hoops to jump through for Hard Money Lenders to lend in (versus much less regulations in most other states) - not impossible to find by any means, but Nevada is going to limit your options

You can get a house for $100 per night which makes all of the houses unprofitablePlus there’s a lot of regulation limiting occupancy, etc. etc.There’s tons of houses on the market for sale right now in the Poconos at very inexpensive prices, because no one is making any money on their STR‘s so everyone has to sell.

I live in Sarasota County (outside of Sarasota City), FL and trying to understand the rules, regulations and loopholes with STR properties.

Once fully satisfied, the split becomes 50/50.When accessing this deal, here’s what went through my mind:A PMP would have to be okay with holding their funds long-termThe borrower would need to be experienced with doing wraps, as it takes time to get willing and able buyerThe borrower would need experience in pivoting to a different exit strategy should they fail to successfully execute a wrapWith NO EQUITY on the property originally, and the PMP being in second position, the borrower would likely need to cross-collateralize if the PMP has NO INTEREST in taking over the propertyMy conclusion, from looking at this from a thoroughly analytical standpoint, would be only someone who has a moderate to high risk tolerance and cares about cash flow without pulling out and parking their money into numerous deals would likely lend on this.Anyways, thoughts anyone?

This resulted in people bringing me deals in the market, helping numerous other buyers invest in the area, and grow an extensive rolodex of team members.

In my previous role, I encountered numerous instances of real estate fraud, which opened my eyes to the importance of legitimacy and trust in this industry.After months of studying the markets and educating ourselves on the BRRRR method, we are thrilled to have potentially found our first deal, along with other promising prospects.

Search the BP for ADU appraisals to encounter numerous examples.

Ensure you understand property laws, taxes, and local regulations.

Too many arcane rent control regulations to trip you up.