@Levi Ballard thanks for the referral!!

@Levi Ballard Big John is a tough guy to find lol Is this him?

But in my talks with the excise and license guy who oversees STRs, he has explicitly said that a basement apartment, mother-in-law suite/carriage house are considered accessory uses to your primary residence and can be rented full-time, all-the-time on Airbnb (or VRBO or pick your STR platform).

So you can understand the worry of the levy giving way and having a uncontrolled release.  

Jesse Levi Kelley - Yes, it is common for these type of commercial properties to sit for many years.

@Jon Quijas Figure 7.5% For closing costs (including the Realtor Fee, excise tax and closing costs.)

Second, are there special assessments that can be levied on the property?  

UDFI tax is levied only on the percentage of the profit generated by the amount leveraged (that is, outside SDRA amounts) after all expenses have been subtracted (that is, net profit).Naturally, make sure that your investment "partner" is not a prohibited person.

Thank you @Levi T.

@Levi Koskan What about cutting the "friend" in with a finder's fee: ie, some rent control or a cash bonus if the deal does happen from his assist?