Generally speaking, as long as your daughter has not reached the $13M lifetime gift limit, the gift won't be subject to gift tax.You would want to get a qualified appraisal for the the fair market value at the time of gift/sale, Zillow is not the most reliable :-)

Is that generally correct?

We have a pretty rural place and Idaho has some of the most strict laws around marijuana use so that hasn't been an issue for us.Smoking in general has been a problem a couple of times.

Can you point me to any resources to dive deeper into Land Hacking in general?

Appreciation would be more key here, but don't buy rentals based on appreciation.If you ignore things, then things will just fester with time and things will turn more against you and STRs in general.

Indeed, I'm not sure why you'd want to own a short-term rental home in Cancun to start with.People who land in Cancun (mostly tourists) generally either stay in a hotel / all-inclusive resort there or in the neighbouring Riviera Maya or they stay in a short-term rental in the Riviera Maya.

So, I generally paint all woodwork bright white semigloss which is the default white color that already comes in cans ready to go.

You probably want to form a general partnership or limited partnership.

The bigger challenger with this arrangement is finding contractors that have the financial wherewithal and general professionalism to submit true invoices for work completed and willing to let it sit out there for sometimes 2-4 weeks until the draw comes in to be paid.  

Originally posted by @Dan Ashley:Thanks all for the great replies,To try to sum up what everybody has said so far:• Seems like the majority here recommend looking outside my general area since the prices are so high and I could get a better deal.