Quote from @Jonathan Greene: Welcome.

@Min Zhang, I did read David Greene's "Long-Distance Real Estate Investing" and am using it as my primary guide.

@Butch Greene, your issue isn't about buying it at all.

Since you want to invest in another state, I highly recommend you read "Long-Distance Real Estate Investing" by David Greene.1.

Quote from @Josh Green: I personally am buying and helping clients buy in the Tampa Bay Area for a few reasons:Here, you have a historically strong and consistent tourism presence, limited land/STR allowable areas, highly liquid property compared to selling a cabin in the woods, all 9 classes of visitors in the STR sector, and appreciation.

@Jonathan Greene, I agree for the most part.  

I think you crossed 2 of the more common real estate tax benifits.Section 121: Primary Residence Capital Gains Tax Exclusion What it is: Excludes up to $250,000 ($500,000 if married) of capital gains when selling your primary home. 

I recommend you read "Long-Distance Real Estate Investing" by David Greene and consider investing in a different market.

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?

If you don't want a house look in Cagan's Crossing, there's some nice condos and townhouses in there.