One of my favorite authors, Nicholas Nassim Taleb, sold me on the concept of Skin in the Game and holding all pundits accountable for prior predictions, myself included. 

looking to set up an STR in Tucson I’m having difficulty finding regulation requirements by the city.

I have had a little difficulty understanding the legal limits of Owner Financing here and don't quite understand it yet, how much interest can you charge, etc... different attorneys have given me different answers, I need to speak with @Diogo Capela about this.

FYI, Blacktip Construction Group may be in big financial difficulty.

They have more skin in the game then you do.Make sure you get clear title.

This is why you need to do a ton of due diligence on them and make sure they have skin and the game and something to lose.

Sometimes they don’t like that because you don’t have skin in the game.As for advantages to the seller - are you going to pay them more for the property, that would be a perk that I offer in addition to making a little extra on interest for the duration of the loan.

I also want high skin in the game, conservative leverage and reasonable fees.Open-door isn't a match for me (and an easy "no") because they don't have that type of experience.

My concern is that without that amount of personal income available I would have difficulty establishing a sufficient amount of reserves for emergencies.

You can get some insurance on unpermitted units, a lower coverage amount than for a permitted unit and will have difficulty rebuilding it as a permitted unit at the covered amount (which makes sense because its value is less than a permitted unit).