I'd say one of the issues I'm having in the Sarasota/Bradenton region is the rapid changing regulations in regards to STR.

@Chris Kittle off the  top of my head does this helphttps://www.llcuniversity.com/wyoming-llc/

@John Clark hit it on the head.

https://azbigmedia.com/real-estate/multifamily/phoenix-ramps-up-apartment-construction-by-18/There is rapid expansion to match the flood of new people with LA more or less being land locked.

They then decided to scale, hired Joe Namath as a spokesperson (I know, right there that’s the sign this was headed for disaster) and went around the country drumming up interest in investing in their newly formed REITs.

Others have hit it on the head.

Unless it's rapidly appreciating it doesn't sound like a suitable rental anyway if you have to come out of pocket that much. 

It didn't go over your head, it's right in front of your face. 

I am hoping this gives me a head start in funding the initial investments.I also have some high balance liquid assets, but I am putting all or most those funds into other investment vehicles to diversify my holdings such as stocks, bonds, etc.

You and the other posters here have been generous in indulging me in this exercise of considering this "partnership" / BRRRR, but demonstrating that we can invest successfully on our own power before seeking out partners is not only my strong preference but just sound business logic.As a new investor my head starts to spin when I start to think about investing, and the many gaps in my knowledge reveal themselves: how to structure a partnership?