Also, trying to have a hands-free airbnb business seems to be especially hard. 2.Team Up with Experienced Apartment Syndicators:•This option involves partnering with a small group of experienced apartment syndicators to focus on acquiring and managing apartment buildings.

Would there be gift taxes involved as well? 

You could just think of the parent Series LLC as the ASSET HOLDING COMPANY and the traditional LLC as the OPERATING COMPANY.It would require extra costs, since you are involving the formation and operation of an additional entity.

I found this deal off market and found agreeable terms with the seller involving a midterm lease during renovation.

Also, do I need to get a lawyer involved?

These things should NEVER be considered in an educational program much less a program that has self serving owners with over-hyped experience and credentials.Students have been squeezed out of deals that their coaches are involved with.

I really want to find something nearby that I can really get my hands on and be involved in.

The second question involves whether you want to avoid PMI by paying the 20%.

I was involved in wholesaling business long time ago (not real estate but consumer goods), and it has taught me A LOT about human nature.

(Get a QI like @Dave Foster involved BEFORE the sale.)