No transactions under my belt.

This approach allowed us to manage renovation costs effectively while ensuring a smooth transaction process.

But and most definitely looking to do one or a few REI transactions during my HELOC term.  

A lot of good opinions on here already but I figured I would share mine.I don't personally have any short term rentals in NH or Florida but do have one just over the border in Southern Maine.

Not looking to spend too much money as this deal is amongst trusted family members and I just want to make the transaction legitimate.

Never had a problem...I didn't use a traditional lease, but just asked them to email me their contact info and request for dates, then I would respond with a price and fianlize the transaction.

If you start pooling money from people who are not full partners (i.e. have decision making power), you will start to cross into the territory of securities, in which you will be subject to SEC rules.

The only issue really is that this is not considered an "arms length transaction" so if you were going to a bank they may more hoops to jump through or lend less than they would in an arms length transactions or even pass on it.

It seems like your current PM is bordering on negligence by not only failing to get these repairs done/keep the property in shape but by failing to even bothering mentioning any of these things to you!

.- These tend to be "assassin" type shops who are small teams of pretty elite operators, and they aren't bloated down with BS like the big CRBE's etc of the world, so you'll get exposed to more, you'll get exposed sooner, and they will generally be ideally with a niche industry or product type but will often have a ton of satellite deals they get which will get you cross industry exposure.