While your partner accepts more of the cash from the sale of the FFE and the associated tax bill.This might take some accountant massaging. 

With this in mind, if you intend to leverage short-term debt (hard money), it's even more vital that your underwriting is thorough and that you have the correct systems in place to tackle potential issues.

Have a way to double checking their information they give you on the application.  

This would be my first real estate investment, making the decision even more critical.I understand that backing out would mean losing the $2,000 earnest deposit.

I want to know more about the area and build a team that can help me purchase and manage properties.   

So, Anca, your parents can 1031 from one property into more than one. 

There's also the fact that during Covid, Airbnb, going against hosts' cancellation policies, cancelled bookings and refunded any guest who said they had Covid, or their grandmother had Covid so they'd been exposed, or any other ridiculous excuse. 

And lastly, by doing more of a new build focus you can always exit since you built below market in the area.

Despite the fact that the market has dropped significantly both in rent and price, I still think the market should be considered high risk/high reward.

I am [email protected] Jason has given great information and opinions on economics and things he knows a lot about.