Hi @Brendan Jones I moved to Nashville in late 2021 to begin my homeownership and investing career, buying a primary residence, house-hacking it, and transitioning to a long-term rental once I bought my next property (also in Nashville) so would be happy to share my experiences.There is a lot of interest in STRs in the Nashville Metro area, but the zoning has become increasingly strict over the years.

If you don’t mind sharing, how much did you have to invest in your first property? 

Show you're qualified and sell yourself: Know and share your criteria, how you're purchasing (debt vs equity)?

K1s show your share of income or losses from the partnership, and you include it on your respective personal tax returns.Now, to your partners.

However, I’m new to navigating such a situation, and I’m looking for guidance on:Collaborating with neighboring property owners to reduce costs and share resources.Structuring deals involving land contributions and joint development efforts.Attracting capital partners for projects like this.I think this could turn into a win-win for everyone involved, but I want to ensure it’s planned and structured correctly.

Would you please be kind to share an emotional service animal addendum that you use @Nathan G. :) Thank you.

The other 50% is shared between aunts and cousins.

Thanks for sharing Charles. 

Please, share some tips and cite the pages and books on what was so enlightening that one cannot find for free in the forums here or on Youtube.  

Later, you could refinance, pay off the sister’s share, and potentially renovate further to add value.The big questions seem to be how to handle the mortgage so the parents aren’t stuck paying rent and whether setting up a trust or another legal structure makes sense for passing ownership smoothly.