A knowledgeable attorney can advise here.Create a solid operating agreement: Since you own the condo with a friend, a clear operating agreement is essential to outline responsibilities, decision-making, and profit-sharing for the LLC.To save on costs:Look for real estate attorneys who specialize in investment properties and might offer package deals for the retitling, operating agreement, and filing the LLC.Shop around for title companies that can handle the transfer smoothly and provide competitive rates.Research DIY options for setting up the LLC if your situation is straightforward, though I’d still recommend a lawyer for the transfer process itself.Good luck with the process!

There are a lot of positive ROI options in that bucket.To answer your question anything on the beach will rent well. 

Is spending thousands on a sprinkler system worth it or do I have other options? 

With my $1,100 monthly revenue, my 700 FICO, and my (likely) $55,000 in equity - what kind of options would I have to refi.?  

I am looking into my STR options but from what I have learned this is a overflowing market in the area and the vacancy's are increasing so I may look into mid term and long term only.

I have found other 100% financing options as well.

My view is there is more protection on a wrap than a sub to and with the right disclosures and underwriting can be an alternative option. 

I also worked with a great lender who helped navigate financing options, including my HELOC, to make the deal happen.

I found myself overwhelmed with all the options.

I would finish 4/6 rooms down there with proper egress and optional ventilation.