As an example, the steps @Chris Levarek outlined (which were great), sound to me like general solicitation.Investors don't need to be accredited under 506(b), and if they state that they are, you don't need to verify.  506(c) requires you to do a detailed review to ensure they are all accredited.You're doing the right thing in meeting with an attorney, so this is not legal advice, just general guidance about where each of those options might take you.  

Your rights and abilities are clearly outlined in your contract. 

@Paul Tibok - Go with the FAR/BAR Lease, it is the one I prefer because it is balanced and it clearly outlines responsibilities and recourses for both sides.

For reference my process typically goes as follows: 1) Lead comes to me from aparments.com 2) I send out a template I have been refining, outlining the specifics of the rooming house and some FAQs I get a lot.

The costs are within the range you outlined above and depend how complicated the deal is.

That new holding LLC buys the up leg property.Based on some research, it appears that we can easily do this by drafting a resolution for our LLC outlining our plan.

I will research the options you outlined and I appreciate the reply, I am very interested in the student housing market and have a few very good deals 11-14 Caps that I want to make a move on

You can list the fourth unit in the fourplex on Airbnb or VRBO, but only for a minimum stay of 30 nights.There are further restrictions, outlined here:https://www.airbnb.com/help/ar...Best,Jon

They will provide you with a Table of Use which will outline your allowances on the land and what other things you need that would require a Special Permit.

I have done my research but cannot find anything that outlines this besides all STR's require an approved permit by the town.