Boots on the ground is hyperlocal, and what you're looking for is essentially cheap labor that can open a door when you need it.

Paying more to guarantee getting the product versus jumping through hoops (short sale) or possibility of now owning it at all (auction).I'm only asking questions to understand!

It also results in a nicer product, attracting better tenants. 

Understanding the preferences of the Hamptons luxury market is essential.

Obviously there’s a number of things that can go wrong, I’m just curious if you find the documents less effective than one from an experienced lawyer but you are willing to accept less quality for a cheaper product or if you actually find them more effective in the first place.

Please, no solicitations.Use the renovation/acquisition loan products that require 10% down on the purchase and you should be able to get a few going at a time.

When filing the LLC return, it is important to ensure that these liabilities are accurately reflected on the balance sheet.However, it's essential to note that distributing the refinance proceeds among LLC members could potentially be viewed as a taxable event if there is no intent to repay these amounts to the LLC.

Understanding the preferences of the Hamptons luxury market is essential.

It sounds like you have a lot of experience in this space, and I'm always interested in learning more.I think one takeaway is that this is a difficult asset class to own and operate, and just like @Jay Hinrichs mentioned, having a great team is essential!

The property is fully paid off, as it was essentially gifted to me.