I worked with an expert STR agent, Troy Nowak, who guided me through the purchase and negotiation process.

If I could ever be of some help in the process or want to discuss specific areas of town and investment analysis, please reach out!

I've done a lot of value add as well so that helped speed up the process.

And I will state different jurisdictions have different rules, processes, expectations, etc.In my area you are required to have a permit to swap a water heater.

Evan,  As a local broker, I’ve assisted many clients with the entity transfer process, often referred to as a "drop and swap."

Stats are not in your favor but forget the stats as it all depends on the individual's drive, effort and processes. 

How often, and what does that process look like?

Certainly nothing ground-breaking in terms of ideas here, however I'll be very hands on (and on site) during the process to make sure that every step of the way is executed to a high standard and very carefully.Once I've hopefully developed a successful track record and gained experience, my next goal would be to move on to commercial assets (think multi-family, industrial etc) so that I can leverage my existing investor network and real estate knowledge to raise 3rd party equity and take on bigger projects.

No major thought process here very simple.. 

Having an exit strategy can also just simplify the process in case one of you has a life event and needs to exit the deal.