There's a few places on the east coast that look promising but I'm mainly looking at Connecticut.

Then I would say that the main challenge for you will be finding trustworthy, experienced operators who are going to give you repeat business and who have a track record of successful project executions. 

I am ready to secure another property for STR that we will do all the work ourselves being that it is 6 houses away from our main house. 

Hi Randy,The reason small apartment buildings haven’t seen the same price drops as larger properties comes down to a few key factors: 1031 exchange buyers inflating bids, strong demand for limited supply, and sellers holding firm on prices since they’re not under financial distress.

The rehab would be mainly cosmetic, floors, kitchen, bathrooms, paint.

When someone pays me for an LLC, they are mainly paying for creating the operating agreement that governs the operations of the LLC.

If it doesn’t, then talk to an estate attorney and tell them your main concern is bypassing probate.  

When I started out I had a small mansion on the beach that had a 4/2 main house and a 2/1 casita. 

It is decided on the partnership level and depends on whether this interest is incidental to your main business or it IS your main business, as well as the overall activities of the partnership, number of loans etc.

I know most of us here know these definitions, but just to make sure we are all on the same page.The main negative with MTR arbitrage is that since you do not own the unit, you get none of the benefits of being an owner.