got it, but the business entity in question wether LLC, corp, or whatever the case... does it need to be 100% owned by my wife since she can position herself as "full time" investor as I'm a full time W2 employee currently. 

If you can craft an experience that is above and beyond what the guest expects when visiting your location, then the reviews will come in positive. 

Trying to stay positive, though! 

In PA this does not go to an overage fund or surplus proceeds fund.. instead.. in an upset sale any amount bid over the minimum starting bid in the Upset Sale will be applied to liens against the property in order of position… since the min bid includes all municipal, back taxes and county liens.. then would it be correct to stated that this extra 10k would go toward the remaining Morgage amount (if applicable) IRS liens, cigarette and sales tax liens etc..? 

---Unfortunately, every "guru" and even many investors, fluff their numbers to get positive attention.

There's enough money between us and them (the parents) to cover the various issues that might happen, my main concern is that the bulk of the cash is with the parents, and I'm not sure how to position it to a bank to get a mortgage in my name - because of my understanding that this would be considered an investment property and you can't use gifts as down payments for investment properties. 

If this works out well, it can position you to grow your portfolio quickly.

Interest is long term appreciation though some sort of positive cash flow would be ideal.thanks so much !!

If you have had positive experiences with insurance providers in the area or know someone who provides excellent coverage tailored for vacation rentals, I would be grateful for your recommendations.Additionally, during the property inspection, we found a few minor repairs that need some attention before we officially welcome guests.

Additionally, I’ve secured seller financing for half of the purchase price, but I’ve been told this could complicate things further since banks typically prefer being in the first lien position.