Hi Bruce, i'll start by saying i'm a mortgage person, so please understand the context in which my response is coming from. you'd need to create CC&Rs/bylaws and establish an HOA in order to do this.

I'm now finally here in person, and have started to go view places in person with the intent of purchasing. 

"owned outright"- do the members have personal debt to support this, or is it both zero for personal and for the business?

I'm looking to identify a builder with the following characteristics:1) Eager to grow his/her company and reputation in the market2) Has produced at least five high quality builds in Arizona which are at least 4K sq ft  3) Has proven track record of completing builds in a timely manner4) Personal capital to allocate to projects (optional, but ideal)Please reach out to me if you or someone you know might fit these criteria. are you set that you want luxury?

Sometimes I wonder if people just feel better about themselves to spend all those nights and weekends on real estate when, realistically speaking, they would have earned just as good a return (or pretty close to it) by investing in a stock market index fund and had way more free time in life  I realize my premise here is antithetical to the whole notion of BiggerPockets so of course bigger pockets hates me writing this, as do all real estate agents and property managers, but it’s the truth and everyone needs to think about it

If the home was still your primary residence throughout 2024 and not actively listed for rent, it would typically remain classified as a personal residence until the lease began.

Personally I am thinking 1c.

Then, with what they don't cash out, they can put into a centralized lending platform, and earn up to 8%.

Recently had a conversation with an MLO who had their license with Company A (NMLS regulated) and then on the side, this person conducted commercial-only business loan-related activity by starting their own LLC (company B) in the states where no mortgage licenses are required.

The tenant has two types of coverage: liability and personal property.