My biggest concern is managing additional units and tenants.

Additionally, there was no business license registered in the City of Atlanta.Suspicious Communication: The individual identified as Chris Anderson had a heavy foreign accent and provided convincing but dubious claims about the company's legitimacy.Questionable Financial Arrangements: Upon loan approval, the wiring instructions directed the loan fee to a Capital One checking account under the name of a supposed loan facilitator—a 85-year-old woman in Florida.

However, there are risks, such as stricter lender requirements on the use and location of the property, and lenders may require you to prove that it is used primarily for personal vacations (not exclusively as a rental).Additionally, using it for short-term rentals could lead to changes in loan terms, and some lenders may not approve if they suspect the property is being rented out frequently.

In addition to checking the loan docs you should also check the zoning in this property.

Additionally, FEMA updated the local flood maps here in July 2024 and much of the area now requires flood insurance. 

It sounds like you’ve got a solid foundation, especially with your experience in real estate private equity.Once you’ve isolated a market, building your team early is key.

I live a few hours away now but I'm happy to give you info about my experience there if that helps.  

I am still reading books and talking to folks with experience to learn as much as I can.

To avoid going through the same poor experience, keep reading.Even if someone gives you a referral here, do NOT make the mistake of assuming that the PMC will meet your expectations, just because they met the expectations of the referral source.In our experience, the #1 mistake owners make when selecting a Property Management Company (PMC) is ASSUMING instead of CONFIRMING.It's often a case of not doing enough research, as they don't know what they don't know!

I've owned a bunch of condos, so I speak from experience.