And even then, the life cycle is generally pretty long from first contact to closing.  

Being out of state, I would suggest vetting your "team", meaning find an investor realtor, lender/s (hard $ / long term), property manager, contractors, etc.

It's been a while but I've read David Green's BRRR and Long Distance books.I'm interested in small single-family BRRR investments.

Understanding the terms, qualifications, and overall structure is crucial—after all, a loan is a loan, and knowing how to leverage it properly makes all the difference.As for Zillow, IMO, one should never use it for ARV.

If they gift it to you it's tax-free (as long as they're under the lifetime gift limit around 14 million) they may have to file a gift return though, but there won't be tax due. 

Can you give us the details, What was list priceWhat did you offerWhat was their minimum to hud counterWhat did they accept, I assume this is same as second answerHow long after the "countered" did they come back and accept your offer?

Quote from @Steve Englehart: I currently have two long term rentals and am looking into buying into the short term rental arena.  

Without sharing greater detail of your proposed investment, no one can offer anything of value in terms of what types of returns they would want to see to compensate for that risk.

But as long as its not directly in the flight path, it will be okay. 

What if they change the terms on you last minute?