I personally make well over $100k/yr cash flow from 21 buy-and-hold properties here.

I’ve personally gutted and rehabbed three of my own houses, and for the last three years, I’ve been hands-on managing my own rental properties.

we can do it not rented but rate will be significantly higher. easier and more cost effective to rent it. unless the bridge money needs to be paid back asap or you need the funds back to buy more, then a cost analysis needs to be done. personally id get it rented at market rent or a touch below if time is a factor. 

Buying as a vacation rental could potentially qualify for a lower interest rate, but you’ll likely need to provide proof of personal use (even if minimal).

Some regional cities that I personally would consider are Savannah, Beaufort, Wilmington, Columbia, Greenville, and Charlotte.

I would build a relationship with the person before you decide to partner.

Personally never heard of this scheme or way to set up transactions. 

Hard to say one way or another without knowing your personal finances, goals etc., but it seems like a good deal. 

Interesting, I bet she is a unique person.

Assuming I also use the Airstream for lodging while traveling for personal reasons, would I just take a pro-rated amount of depreciation for the amount of use that is business vs. personal?