We negotiated a deal with the owner for 20% Equity, we are responsible for infilling the community as well as property management (which we also get paid separately for).

Is it tied to changes in the market, a response to new regulations, or part of a long-term plan?

Unsure about STR regulations in Charleston but I would advise you to search "arbitrage" on this forum and read up on the hundreds of pros and cons responses here before diving in to any market using the arbitrage model.

I agree with both responses @Chris Magistrado.

They moved in and within 24 hours sent the following letter (names have been changed): "Hi Dawn and Brian,Sindy and I are frustrated, disappointed, and really struggling with the idea of moving forward with the move into your home.We realize this is the first time you have rented a property to someone, and may not be aware of the responsibilities that landlords have, and want to inform you that there are habitability issues with the home that are quite literally against the law, pursuant to Colorado’s Warranty of Habitability Law, CRS §§ 38-12-501 et seq.

Ask as many questions as possible - the better your questions, the better your responses.

Subsequently, we are open to creating other connections in the area.Looking forward to the responses!

Given how chaotic that period was, their response was reassuring.Truly Hands-Off Experience:Their white-glove service does deliver on the “hands off” promise.

I’ve raised over $13M as a MF syndicator and it’s an awesome responsibility.

Just keep those off your P&L right from the start.If you have questions on the maintence percentages on the POH homes... lmk and I may be able to help.Hey Roger thank you for your response.