My previous renters were relocations - either had sold their home and looking to buy another (low inventory so takes a while to find a home to buy) or moving here from another city and didn't know yet what neighborhood they want to be in, or alse building a home and need a place to live until it's completed.

I would be happy to share my experience in knowledge in this area (MA and RI) as I continue to look to build my portfolio. 

.- I prioritize building strong, professional relationships with my buyers by taking the time to understand their needs and goals.

It also requires different reporting of that separate interest expense on the K-1 each year so the partners know they have the obligation of tracing that interest expense to however the partner used the distributed proceeds.I typed all this up and realized Mr Brooks has left the building and posted this 6 months ago, but hopefully someone else will find this useful!

I have used owner finance and hard money mostly to build my portfolio but need some institutional refi in the future.I'm also thinking about how this affects taxes, insurance.Thanks in advance for sharing your opinions!

This STR would also be a place for us to block dates off for ourselves between work contracts (if we want to), which adds a slightly more personal investment in this one. 

It’s just like having your 5 houses, only all in one building.

Reality is most of us who make it long term work our butts off in a W2, save as much as possible and build it over time -- When I see people want 10 properties in one year with no money down - I question how realistic that is, of course anything can be done but is that even the right play unless your sitting on $2-$3M in cash?

Beyond the lessons from the projects themselves, building a business that’s efficient, diversified, and focused on the luxury market has been a game-changer.

They see foreigners as one-off buyers so they're not too much concerned about building a relationship or their reputation in the eyes of somebody who doesn't live there for that matter.