The AirBnB is irrelevant, since if the studio is illegal/not up to code, you can't do short term rentals anyway.

Also, don't take the funds up front, make draws as you go.

Every REI has a starting point, a build up phase, and an exit phase (this doesn't have to mean out of REI...it refers to cash).The key to determining this is based on an investment plan, and where the REI is in that plan. 

Quote from @Chris Ganz: @Charles Carillo after the initial lease which was a yearly one was up, I switched it over to a month-to-month.

yes but they may not pencil out or the rate goes up significantly.

This gives me a chance to add value up front. 3.

And has anybody taken advantage of a home equity agreement before and can give me pointers? 

Each has its pros and cons and owning just these two properties have taught me many many lessons about Multi-Family ownership.

The idea is to leverage pre-existing networks in a way that builds instant credibility and gets responses fast.If you want to implement this strategy, here’s a link to the exact resource we used:👉 Spreadsheet Link Here (just make a copy for yourself)I also recorded a short video walking through how we set everything up, but since BiggerPockets has rules against sharing that kind of content, feel free to DM me if you have questions on execution.Anyone else using creative co-living marketing strategies that are working right now?

Let me know if we can help.