They didn't pay for it, so they don't take care of it like an owner.Before you make assumptions about costs based on a seller's contribution to improvements, find out what they improved? 

(If there is a PM, who will manage the PM and the oversight).Who will take care of the partnership return or forward the tax information if its a tenants in common property.Best of luck

@Mahin C. Are

I'm thinking long term rentals will be a good retirement plan.

With out that, there is no proof that it will perform.Do you have a full estimate and plan for 3 years on the property?

so those owners are pretty comfortable - no mortgage payment - and they don't need to sell, and they don't care where an investor "needs" the price to be to make money. 

@Ramsey Doumani This is a great plan.

It’s an interesting opportunity if it aligns with your overall plans.

Really the plan was 6 months there and 6 months in Vegas.

Quote from @Tom Enright: Hi Forum, I'm about to close on my first STR and plan on materially participating >100 hours this year as I'll be working on the property and plan to rent it the last 1-2 months of the year.