Be very careful who you take advice from online, you should get involved with a local attorney and a local realtor.

I'm involved in too many things, but that's what happens when you have a family and kids to support.

To have a successful STR I HIGHLY recommend listening to this episode of a podcast: https://podcasts.apple.com/us/podcast/on-the-market/id161508...Once you listen to this, and any highly involved STR operator will agree, you will find a lot of the fundamentals are lacking in Kissimmee or you have to have deep pockets to hit those.I won't spoil the episode, but if you listen to it (and anyone out there that does) feel free to DM me afterward and I'd be happy to talk details tailored to your situation on if you're on the right path or maybe I can help.

The capital stack especially in CA is VERY complex and typically involves everything and more that you mentioned.

Without my wife's direct involvement, I think some of our homes would have struggled to stay afloat.   

Depending on where the property is and the lender involved, and what he has told the lender, and so on and so on, you handle things accordingly.

Unlike refinancing, which involves taking out a new loan, recasting keeps your existing loan terms—including your interest rate and loan duration—intact.

Many real estate agents dabble in property management without fully understanding the complexities involved, making it risky to work with them.

Encourages Larger Investments: By offering higher returns at higher tiers, you incentivize investors to allocate more capital to your projects.Builds Long-Term Relationships: Investors appreciate being rewarded for deeper commitments, which helps foster trust and repeat business.Scales with Your Business: This structure can align with the complexity or scale of your projects, ensuring that you have the resources you need while staying competitive in the market.Key Benefits to InvestorsSecurity: Deals can be secured by tangible assets, such as a deed of trust or promissory note, providing peace of mind.Flexibility: Payments can be structured to suit the investor’s needs—monthly, quarterly, or upon project completion.Attractive Returns: With returns starting at 15%, investors often see better yields than traditional investment vehicles, like stocks or mutual funds.How We’ve Implemented ThisThis structure works particularly well for our large renovation or development projects where multiple investors may be involved.

I have a bit of experience with co-living investors, having been involved in several co-living investments for five years.