It's important to have your attorney review the title commitment, as I've seen "wholesaler-friendly" title companies include various items in the title exceptions that could cause problems later on. 

Absolutely love your #1 My assumption is the OP will stay pay for an overly complex structure that adds limited value except to the pockets of the service provider

Except that the owner cannot buy the property at auction!

It doesn't sound like a lot, but I do NOTHING except cash the check.

After reviewing the latest ordinances, reports, and city guidelines, here’s a summary of my findings as of 11/18/2024:Key FindingsPermit Types and Fees:Type 1 (Owner-Occupied): $300 for 3 years.Type 2 (Non-Owner-Occupied): $450 for 3 years.Density caps apply to Type 2 permits (12.5% of block face).Enforcement:3 violations in 3 years lead to permit revocation.Fines up to $500/day for violations.Hotel Occupancy Tax (HOT):City: 9%, County: 1.75%, State: 6%.Platforms like Airbnb and VRBO will remit directly to the city starting Feb 2025.Platform Obligations:STRs must have valid permits; unpermitted properties will be removed by platforms like Airbnb.Special Exceptions for Density Limits:Require approval by the Board of Adjustment (BOA).Zip Code BreakdownI focused on these 11 zip codes:Under San Antonio Rules:78205, 78204, 78215, 78210, 78212, 78245, 78258Independent Municipalities (Separate Rules):Alamo Heights (78209)Leon Valley (78238)Helotes (78023)Next Steps:Research density caps and zoning in specific zip codes.Dive into independent municipality rules for Alamo Heights, Leon Valley, and Helotes.Evaluate market maturity and income potential using tools like AirDNA.If anyone has experience operating STRs in San Antonio or these specific zip codes, I’d love to hear your insights, especially about density limits, enforcement trends, or community sentiment.Thanks in advance!

Mostly without exception they have told me, the worst mistake they made was trying to do it on their own. 

No, there simply utilizing it, adoption, as is all there competitors, so it's not any business innovation except the ai creators, it's industry adoption to a evolved S.O.P.. 

Section 469(c)(7) provides an exception that allows qualifying taxpayers to treat rental real estate activities as nonpassive, enabling them to deduct losses against other types of income.

Multiple offers are now the rare exception, not the norm.

If it does perform exceptionally well, the excess profits should be shared with the owner, just like in a traditional property management contract where the PM gets a % of the rents they collect.