I went to the Town Hall and asked if they had a law on the books and spoke with an individual who said my municipality has a "love hate relationship" with vacation rentals. 

I am reluctant to recommend anyone wait to enter the RE market because no one knows the future.  

., with a diversified economy and a strong job market.Opportunities: Multifamily developments, long-term rental properties, and flipping projects.Houston:Reason: Known for its oil industry, Houston has diversified its economy into technology, healthcare, and manufacturing.Opportunities: Commercial and industrial real estate investments, as well as residential projects.San Antonio:Reason: It's experiencing continuous infrastructure growth and is more affordable compared to Austin and Dallas.Opportunities: Affordable housing and expanding development projects.In Florida:Orlando:Reason: Orlando’s tourism industry continues to drive growth, alongside its rising status as a tech and medical hub.Opportunities: Short-term rental properties, multifamily developments, and new residential construction.Tampa Bay:Reason: Tampa is experiencing a population boom and is considered one of the best places for job growth in Florida.Opportunities: Waterfront properties, new housing developments, and commercial real estate.Miami:Reason: As an international business hub, Miami is attractive to both investors and high-net-worth individuals looking for luxury real estate.Opportunities: High-end residential and commercial properties, luxury condos, and fix & flip projects.Sarasota:Reason: Known for its beaches and quality of life, Sarasota attracts retirees and families, boosting its real estate market.Opportunities: Residential developments, vacation rentals, and waterfront properties.

Private would be money lent through anny company or individual outside of a loan from a bank...

An individual could name both the LLC and you in a lawsuit. 

You normally want to mark that the partnership is filing a final year return.If one partner is being brought out, that individual will have to report a sale on his/her individual return.

This market cycle we now entered is one I call "Feeling The Pain".

@Kenneth P Ford they are a national franchise with great marketing.They also have some national support for their individual franchises, but it all depends on the local team.Recommend exploring as many sources as possible to get referrals AND cross-reference them to get as much accurate information as possible.Check out NARPM.com, BP’s Property Manager Finder (BiggerPockets: The Real Estate Investing Social Network), etc.Also, encourage you to learn from the mistakes of others - by reading posts here on BiggerPockets about owners not having their expectations met by their current Property Management Company.

Already a co-owner of  single family home with shared common space and bedrooms rented to individuals.  

It's up to the individual accredited investor to perform research and make an informed decision.