My vision includes developing the land into a destination with features like driveways, walking paths, utilities, and unique lodging structures.Here’s my tentative plan1.Place the existing STR in an LLC2.Apply for an SBA small business loan to fund the next steps, including a feasibility study (~$10k+), land clearing, and infrastructure development.While this direction excites me, I’m torn between pursuing this venture and continuing with a more traditional approach—buying one home per year using conventional loans.I’d love to hear your thoughts:•Has anyone transitioned from STRs to glamping or similar ventures?

The standing plan is to put in mini splits in each unit once the existing furnace finally dies.  

This policy will provide additional coverage above what your existing policy covers.

@Travis Boyd Outside of instances where FHA or other extremely advantageous financing options exist I am a proponent of the LLC for investment real estate although the liability piece is overstated.

If you can't find an existing multifamily to pencil out try to identify something that you could add an ADU to or a larger single family home you can split into more than one unit using ADU rules.

He didn't even do an assumption here...with an assumption the lender knows the property is being conveyed and the new buyer is assuming the existing mortgage which is a lot less risky for both the buyer and the seller.

I have turned over all of units multiple times the highest vacancy I'll get us under 1 week becuase property will be up for rent 2 months prior from existing tenants moving out.

My friend had a client who nearly missed a crucial clause that let the syndicator raise additional capital from new investors, which would have watered down existing shares in a pinch.But it all comes down to how hands-on or hands-off you want to be.

The catch 22 of being accused of brokering without a license vs. being accused of taking a net listing as an agent still exists.

We take pictures on a pre-inspection only of existing damage, which generally doesn't exist because we repair anything that happens between tenants.