Prioritize properties with strong rental potential and set aside reserves to handle unexpected costs.Finally, familiarize yourself with tenant laws in your target market, especially in Portland, and consult a real estate-savvy CPA for tax efficiency and legal considerations.

Since our legal billed were $36,000, we’re $100,000 ahead.  

I'm not sure if you're aware but STRs are not legal in JC unless you the owner live in the building 

Considering it's from a reputable auction site, do I have decent legal standing if they misrepresent it?

We call renters members due to the legal structure. 

I am not a tax or legal professional so please take this to someone much more qualified.

Who would not want a legal, permitted unit for $8k or anywhere close to that (i believe the $8k is likely optimistic)?  

Quote from @Frank Barletta: It is more cost-effective and practical to install a large-size TV and get the Nintendo, Super Nintendo, and Sega Mini consoles.It comes with games preloaded, legal, and each to swap in case something breaks. 

It all stems from an angry neighbor filing a complaint to city and calling the home a boarding house.  

I’m currently looking into the best ways to structure guest payment flows to ensure legal compliance (that may restrict non-licensed property managers from collecting rent directly) and seamless operations.