Debt Protection: If you have mortgages or private loans, a life insurance policy can protect your family or business partners by covering outstanding debts in the event of an unexpected passing.4.

I'm in Orlando and active in residential real estate as a Realtor® and also serve on the board of CFRI, the local chapter of the National REIA.

More properties but more debt. 

I'm not sure about your partner here if he has the backing or experience as an engineer but my experience with engineers is they don't have practical real world experience like you have by doing projects all over the nation. 

Unless you are obtaining a DSCR (Debt Service Coverage Ratio) loan or working with a community lender through a portfolio loan, you will likely need to take title to residential real estate in your own name at the time of purchase.

This 1 bed 1 bath condo is rented out 162 nights a year and covers all the costs of running the unit and debt services.

People have relocated from across the nation for some of these positions and have nowhere to go or nothing to do.

This is why huge nationally scoped/wall st back or securitized hard money lenders will have a hard time dominating the this very segmented market.

Quote from @Duane Richards: @Sundone Boutvyseth I also did a 10% on STR in Florida last year, it's worked out really well, but went through a national lender.

If the property can service the debt at 90% leverage between a senior 1st and the seller second, you're looking at a good investment!