I have a small mortgage left on it with around 3.75% rate and I think Chase (mortgage holder) will accept that I modify the deed such that it goes into an LLC. 

Make the offer appealing by highlighting the short-term ROI from his renovation expertise and potential profit-sharing during the partnership.

Quote from @Ben Russell: Although I agree the leases and the legal implications of "Mid-Term" rentals and "long-term" rentals are closly related, I don't think the leases should be identical. 

In terms of appreciation as well.

You could agree with the Seller that you will accept up to $10,000 in the special assessment and the seller covers the remainder.

I'm passionate about creating secure, long-term housing solutions that balance tenant stability with strong returns.

My idea to achieve this is to convert the studio into a short-term rental.I’m trying to determine if I’m forcing this deal to work by relying on the short-term rental strategy or if it’s a reasonable approach given the numbers.

The time has come for me to start investing in real estate and before doing so i'm looking to build a strong and dedicated team of partners: agents, lenders, contractors and property managers mainly in the Cleveland area (but also open to markets within a 2-3 hr drive away) that already possess an excellent track record in their line of work and that value long term collaboration.

I do have some investment experience and I'm currently managing 1 property, all the numbers are great and there's a good amount of cash flow and long term growth so I'm not a total green horn. 

Mashvisor – Helps compare long-term vs. short-term rental potential, especially useful if you’re weighing both options. 4.