i invest via 50/50 partnerships. i find/coordinate/manage the deal, and my partner brings the capital to the deal & approves large expenses. on their end, it's just about as hands-off as investing in a syndication, but they get to be one of just two main 50/50 decision-makers. and when there are just two parties involved in a deal like this, vs it being diluted across tons of investors, i find it's also possible for the capital partner to see much higher returns. when it comes to teaming up in real estate i'm much more relationship-based and less transactional. i'd rather do fewer very high-quality, carefully selected deals, each with just one capital partner, so that i can really serve that person's best interests and get us amazing results, vs. doing a bunch of diluted deals. i also feel a lot of syndicators out there are newer to the game, lack experience, haven't used their own money enough, and don't use their investors' dollars with enough caution. it gives the high quality syndicators a bad name.

Learn the lawsDon't use a contract "off the internet", laws vary by state and are also regulated on a federal level Learn the financing techniques correctlyDon’t skip parts of the processDon’t ever do a “kitchen table” closingUse the proper deedAn attorney can help you with the legal work, but the rest you are on your ownYour guru will not bail you out“Investing” in someone else’s deal by providing a small 2nd loan so the “investor” can pay for “cash to the seller” and for “closing costs” so he can do the deal is a very bad planKnow what problems can ariseLearn the responses and solutions to problems before they are needed Know everything there is to know about Title and what that meansKnow who a "protected class" individual isLearn the "back doors"Learn human natureUnderstand timelinesUnderstand regulation enforcement (some of these "mistakes" have a 10 year statue of limitations ( they can charge you 10 years AFTER you do the transaction) and carry hefty fines and possible imprisonmentThe court doesn't accept "I didn't know" for an answer"Know that the source of the lead plays a serious role in some states and federallyKnow how much of a "profit" pushes the boundaries to invite an investigationYou can be sued by the seller if you don’t do things correctlyYou are automatically at fault if an investigator or attorney or regulator gets involved.

I am very involved in our local real estate investor association and agree that in this central Florida market there are an over saturation of STRs as well.

Yes you can get in without "military" involvement. 

Renovated: Added granite, high end finishes and fixures, landscaping, new flooring and painting throughout.

I will always take a deposit unless I know the people involved. 

In that case you should get an attorney involved as encroachment would be a material issue that if known should have been disclosed both to the broker and to any potential buyer.  

While the traditional approach involves buying a multi family property, living in one unit and renting out the other - with rising prices and interest rates; others have considered renting out bedrooms as unit spaces. 

We have several subcontractors that handle the process but the owner has zero involvement.

Make sure utilities are available, and that you have tap fees included in your estimate, as well as engineering (site plan), architectural plan, and other bits you might need to consider for your market (landscaping and costs of sale, for example).