If they think they have an "Airbnb" Unless they own the publicly traded company, then they only have a STR, or a vacation rental if they have a nice place/location.

Ofcourse I am planning to consult a lawyer first. 

Quote from @Paul Azad: Beautiful property Blake, and great growing area, i drove through a few years ago, amazing scenerey and perrenial vacation spot, would you feel comfortable sharing the structure of the syndication for the investors, fees, projected IRR, or time weighted avg returns etc from a potential passive investor perspective?

The plan was to pay cash, refi out and use that to improve the property. 

If you're planning on only living there 1-2 years, rent may not change THAT much, so calculate what the rent would likely be right now for your side as well. 4.

We are planning to purchase a home and convert it into a community living space for people in recovery.

You sell when it fits with your original business plan (targeted NOI is reached, timeline is reached, etc.). 3.

I plan on getting a few more pieces of real estate once i see how the market shakes out.

We plan to turn the small recording room into a small office.  

Ultimately, it’s about what aligns with your budget, risk tolerance, and long-term plans.