Check your specific area's zoning laws.

if someone can show me the law that would be great so i can show it to the family.  

Your tenant is going to get a free attorney, mine was from one of the largest law firms in America, they use it as a chance to give younger attorneys court experience.  

Just be aware that asking members of the public to “invest” in your business can implicate securities laws, which you want to avoid. 

At least that's the practical approach.  

I am a licensed Lead inspector in New Jersey for anyone who needs an inspection to get compliant with the new lead law in NJ. 

It’s important to note that entertainment expenses, which were once deductible, are no longer allowed under the current tax laws.

You might want to include clauses that adjust the split based on performance or time invested.Potential Risks:Market volatility: The Georgian real estate market might be subject to fluctuations.Regulatory changes: Laws regarding short-term rentals or foreign ownership could change.Currency risk: Since you're dealing with EUR in a non-EUR country.Overestimation of Airbnb income: Ensure your projections are conservative.Renovation overruns: Both in time and cost.Partner relationship: Ensure all terms are clearly defined in a written agreement.Regarding the 70% rule, remember that this is typically used for fix-and-flip properties in the US market.

As you can imagine, we already have an attorney who specializes in real estate and an accountant who is well-versed in rental property accounting best practices (but she admits she doesn't have a lot of experience on the private lending side of the business). 

Cash for keys is a terrible practice.