Comps do not lie, if she pulled similar ones then that's what it is but if the agent did not take into account the bedroom and lot size that would change the value.

I have changed my rental strategy to Co-Living (rent by the room).

Just kidding (sort of).A lawsuit will cost you $25,000 to $125,000 and a year and a half of your life.

STR markets are tough and change fast, best of luck!

Make sure the estimates are very detailed (scope, SF, $/sf, schedule, etc) to ensure that there is a clear dilation between contract work and change orders.

The contract can be assigned to the LLC you create in the future.

That said, we have traveled a lot and stayed in wonderful Airbnbs over the years and have always dreamed of creating an incredible experience for someone visiting Minnesota with a short-term rental as well, so we are definitely open to that idea and have some great experience as to what we know would provide an exceptional short-term rental experience. 

At that time, my friend encouraged me to get into real estate with the idea of creating passive income and wealth in future (via appreciation).

It all started with removing some interior walls and changing the floor plan, removing a chimney, adding a bedroom and bathroom, installing patio door to the backyard, and completely renovating every other interior element What was the outcome?

The translation to this in real estate would be, a highest performer of a brokerage, (after learning the ropes and killing it),then creates their own brokerage.