This is a killer city that is untapped with low barrier to entry! 

@Alex Schumer I see that your new to real estate - congrats in this life changing journey.  

A revocable living trust is another option for privacy and asset protection.Avoid gifting the property before death, as this would pass the original purchase price as the cost basis, creating a large capital gains tax liability upon sale.If the property is Subject A’s homestead, ensure the correct titling to maintain Florida’s homestead protection for Subject B.This post does not create a CPA-Client relationship.

This situation isn't uncommon and can lead to some tricky legal and emotional challenges.Here’s my 2 cents:Reeview your contract terms.

Some lenders may restrict Airbnb use, so clarify this upfront.

In all seriousness, if this is the start of a budding STR business for you, your parents should understand. 

Has anyone dealt with this? 

RUBS are illegal and individual meters is not feasible at this time. 

If you're new to this, have them explain the whole process of how they would get each job done.

Built with purpose in 2003, this store has served the community for over 20 years but is now closing its doors.Similarly, in July of 2024, Stop & Shop announced the closure of its Lincoln Street location, which has already ceased operations.