In this case, you would draft an operating agreement that specifies each partner's role—your friend providing the cash and you handling the rehab and management—and that profits and ownership are split evenly.

Hi @Michael ElliottWe have financed about 15 STRs in Encore for a client and I have another friend buying the second largest unit and the largest lot there.

Inflation is your friend when you're not paying the heat and electric bills. 

But what if people say no, they just want to Netflix and chill? 

They are investor friendly and popular amongst wholesalers.

To get started, consider focusing on house hacking in California with properties like duplexes or single-family homes with ADUs, or explore out-of-state rentals in landlord-friendly markets like Ohio or Georgia.

I don't know the Baltimore market but have a friend who is a very savvy investor there and maybe he would do some coaching to help you understand which way is up.

(Especially a 2-4 unit.)Do they have friends/relatives/co-workers that would rent rooms from them if they bought a property to show more income?

@Brett Coultas if you're a newbie, you want to be careful of an "investor friendly" agent selling you something they truly don't understand:(95+% of agents only know how to handle owner-occupied transactions - you can verify this by asking them calculate ROI for you or Cash-On-Cash!

Sacramento metro by contrast is more friendly, and there are some areas we target here that do very well for STR.