Discuss the tax and legal implications of your current setup and then discuss what might be done to optimize the compliance and reporting obligations.

I haven't close my first flip yet but I am looking forward to it with optimism, and hearing this story fires me up. 

Hence it follows the possibility of deep configuration and optimization of the object is lost.

I love your enthusiasm and optimism!

@Cole Booth Your combination of private capital and owner financing as a strategy for optimizing leverage in real estate purchases are great strategies.

In Texas it is less of a loser, but still non-optimal even after tax considerations in my book.

Based on our clients experience Evolve doesn't do a great job with optimizing pricing, providing a good guest experience (reflecting into negative reviews), and aren't a complete hands-off experience for the investor - if that is what you're looking for. 

We learned it all from a book on Amazon called Optimize Your Airbnb, I wouldn't even try the short term rental game without reading that book first.If you are seriously interested in Airbnb, I would pay $20 on AirDNA dot com and pay for the Airbnb data for YOUR zip code.

My initial thought here is that having expected rents of just over 1% of the purchase price is usually a good sign if you are willing to self-manage, but the fact that this home is in a less than stellar neighborhood could make the deal less than optimal.

The other thing is that my experience without-of-state investing is not optimal.