My understanding is that the the mechanics of the transaction would occur much like a conventional transaction with a third party title company.

Part of Florida's mechanic lien statute:713.06 Liens of persons not in privity; proper payments.—(1) A materialman or laborer, either of whom is not in privity with the owner, or a subcontractor or sub-subcontractor who complies with the provisions of this part and is subject to the limitations thereof, has a lien on the real property improved for any money that is owed to him or her for labor, services, or materials furnished in accordance with his or her contract and with the direct contract and for any unpaid finance charges due under the lienor’s contract.

Hi I'm currently a student in college studying Mechanical Engineering and a friend and I are looking to invest in Real Estate once we graduate in May.

Also to make it legal, you need to make sure you have sufficient egress, fire separation between upstairs and downstairs and technically you need entirely separate mechanical/plumbing/electrical systems.

I plan to retire from FSU as a mechanical engineer/machinist in about 6 years and want to research a potential  entrepreneurship in short term vacation rental properties.

To this second point it generally means that the take a lot better care of the mechanicals and sometimes even fix minor things on their own.

Trying to understand the mechanics of what you shared.

That looks like a guesstimate of 20k to me just from the shape of it and expectations of worn out mechanicals as well.

I have a "life insurance 101" that gets into the mechanics of life insurance policies...https://www.biggerpockets.com/...

You can get better tenants and they should be the first neighborhoods to gentrify from Class C to Class B:)There will still be breakins and tenant-caused damages, with bad tenants even stealing the mechanicals when they move out.