So @Patrick M.  Are

J and M are disqualified persons.

@David Mares the further out from downtown you get, the more the nicer stuff is pocketed in the less desirable stuff.

Using separate LLCs will be an admin and logistical night mare, insurance costs will be higher as liability coverage becomes limited to one property rather than spread over all properties as an umbrella.

Purchase price: $385,000 Cash invested: $60,000 Casa Mare was our first vacation rental investment and by far the best business we have ran into.

@Ivan Mares I've thought about your 2nd suggestion but that much leverage makes me nervous.  

@Kyle Doney and @Matt M. are correct.

I also looked at the property (online only) and thought the same as you in making the units a month to month but Im just getting started and is mare than what I want to take on at this time.

@Ivan Mares Why don't you just wholesale this other deal?

Any water and sewer charges over that $90/m are split between the units by number of residents.