@Steven CatudalIf your partner’s main role is finding deals on the MLS or manage tenants, obviously a real estate agent does this and is paid commission. 

I used the proceeds to buy another property that had an obvious value add component.3.

@Kevin Hintz It's property dependent, obviously, but last year, I sold one a street back from the beach that they're cash flowing.

Obviously buying MFU means more income coming in. 

Obviously price wise, Rent Redi was the lowest.

Robb Almy It's not that it is not to code, obviously when it was built, it was.

Obviously there are risks if I get laid off and would loose all the tax savings and be paying out of pocket for the property, but are there other things that I should consider?

I also know he doesn't do his own underwriting and outsources it, which is very risky, and obvious when you look at them try to explain the underwriting during presentations.

Obviously if I intend to have a top performing STR in this market, my buy box will allow for a much higher max purchase price, but I wouldn't feel comfortable with shooting for the max if there aren't clear ways to beat these competing properties.

We are newbies, and don't want to miss out on a great investment and tax savings opportunity, but obviously want to do everything correctly in the eyes of Uncle Sam.