Since you're in Destin, you might want to check with local firms that have experience with STR-heavy communities, as they’ll be familiar with the risks and requirements.

I would like to be in the partnership for the least amount of time possible but want to be sure I can present this offer as worth his time, which is very valuable. 

I was looking at DSCR loans because they don't require extensive checks like the bank loans and they "only" look at the income generated from the property to qualify for the loan.

Happy to talk if you're interested in checking that out.

Using your throw-away prepaid credit card of course, to protect your credit, and complying with the contract terms -- I find teasers sometimes do indicate whether the subsequent seminar or product might be worth having your company purchase.

The only thing the bank required is that I had a checking account with direct deposit setup into their account. 

. - Taxes are on the higher side at $6,000 yearMy Numbers: $115,000 putting 20% of my money $23,000 and finance the rest with total expense of $1,834Monthly expense numbers: Future Maintenance 13% $273 - Vacancy 5% $105 - Property Insurance 5% $105 - Property Taxes 23% $500 - Property management 10% $215 - Office/Travel/Legal 4% $84 - Mortgage 26% $552 - Monthly Cash Flow - $316 per month or $3,792 per year so Cash on Cash = 17%I think this looks like it is a deal worth doing and I also believe I can bump the total rent up by $50 each tenant which I think make it even better.

Investment Info:Single-family residence buy & hold investment in Fort Worth.

Not sexy but I sleep like a baby every night and cash those checks on the 1st of every month!!

Live in the multi-family for a year, then move back into your own home and rent out the unit.If if not ideal, it's worth the hassle.