Why not look at a duplex or place with a legal suite and you can live in one unit and rent the rest of the house? 

What is the legal way to separate out one lot, and sell it for $1M? 

How do you decide on the number of tenants able to fit in one property as I know its more complex than purely bedrooms, not speaking about legality's though.

If you’re asking how two immature individuals can handle their differences without legal costs then the answer is that they both have to give up the scorched earth policies.  

Tiffany Hi Tiffany,Marine Surf Waikiki is a good option for anyone who wants to do a legal STR in Waikiki area.

You can use an entity creation platform like Zenbusiness or Legalzoom to incorporate but you'll want to make sure you understand best tax / legal structure before you use one of these platforms to create an entity.

Porsha,Homestyle is a great program fairly simple in terms of guide lines and not hard to get approved.

Or better yet could the former owner just sign something legally waiving their right of redemption? 

Definitely consult a real estate attorney in your state to see what your legal options and duties are.

Someone who had purchased the legal STR with NUC or in "Resort Zone" they most likely be doing alright, but for someone to buy in 2024 and do STR, I think it would be very hard to make a decent ROI.