Overall, I regret my decision to invest with them as there is too much risk to the investor (down payment, rehab costs, repairs, vacancy etc.)Their model is based on taking single family homes and rehabbing them to expand the amount of bedrooms, from say 4 to 7, then renting each bedroom out separately, thereby increasing the available rent.You pay for the construction costs, labor, and repairs.  

I think an equally probable scenario is that we'll convert it to a rental, and then look into a 1031 exchange if we think we can trade into a better-performing asset. 

While this insight is valuable, it’s important to remember that thorough analysis is always crucial before making any final decisions. 

That being said, that decision has resulted in a portfolio of over $200MM and my life has absolutely been changed.

You want an accountant who can help you strategize and who is responsive when you want to know the consequences of the financial decisions you are making throughout the year.Good luck.

Quote from @Todd Anderson: @Benjamin Ying,First off Congrats at making the decision to get started into REI and getting involved with BP. 

I can tell from your questions that you are in a bit over your head and before you make an incorrect decision you should STRONGLY consider a consultation with someone.

No decision yet, but it's looking good for the investor, as they were able to find about 20 other houses in the area that have been operated as STRs for years with no complaints.

We hope to eventually have multiple properties, but want to take our time to learn and make the right decisions with our first rental.

As Peter and others have stated you need to get a few different opinions are the work needed, costs, etc before making a decision on how best to proceed