I've done it at times, sometimes 6 figures, but always do it so that there's no tax burden on my recipient.

I don't care what kind of business it is, STR, Hot Dog stand, any biz I am NOT paying 8X annual gross revenues, no flippin way! 

So probably no Michigan or State but Western Michigan. 

It will be an STR with no personal use  Background: high income W2 job, no primary home (ADU on family's land property, happy twith this) so can't get umbrella policy with most insurers as they want auto and homeowners for primary home before offering umbrella  Quotes from foremost and proper.

It strongly touts no debt DSTs.

There’s no real way to create phantom losses without running into issues with the IRS, and you could end up losing important tax benefits.

@Lauren SinzIt makes no difference where you get the number from, if they haven't provided written consent to you specifically, you could be in for a big headache.

You'll end up finding out if there is no motivation to sell at a certain price, then it is not worth consistently asking for the same price that the person said no to. 

@Samuel Coronado I’ve worked with a few lending options that have no seasoning requirements and allow you to borrow based on the appraisal or after repair value irrespective of how long you’ve owned the property for.

That property looks fantastic actually, I think sorting out the budget would be our biggest challenge.