However, this means you’ll need to comply with the annual filing, franchise tax, and reporting requirements in both states.

May require some patience, but trust me, this stuff is not easy for some people to follow... 

Some of the new laws in the state house will require you to provide Air-Conditioning.

If you're an accredited investor able to meet the minimum commitment amount required by the fund, I have to imagine you have access to opportunities that are more favorable to you as an LP.

Is it right that short term rentals are considered as licensing the property for use (similar to a hotel) and not a lease for a long term rental and therefore do not require a brokerage license to provide management services that include price adjustments? 

Your ability to qualify depends on income, credit, and lender requirements, but leveraging your equity makes your request more feasible.

.✔ Personal Guarantee or Collateral (If Needed) – Some lenders require additional security, especially for newer investors.✔ Reasonable LTV (Loan-to-Value) – A lower LTV (70% or less) protects the lender while giving the investor enough margin to profit.3.

Maintenance and potential repairs will also require a long-term financial plan and setting aside a contingency fund for such expenses.The steady cash flow, appreciation over time, and tax benefits can make a meaningful difference to your wealth in the long term, especially with the principal paydown on the mortgage.However, if managing the property from a distance feels too burdensome, or if you’d prefer the certainty and flexibility that comes with having less debt (especially given the high mortgage rates), selling and using the $100,000 in equity to reduce your loan for your next home may be the smarter move.

Are we required to pay FICA tax on the deferred income? 

Just to clarify, when I say timeline dates I don't mean just "project to be completed by (Date)"That's required by FHA/Lender, but in my 20 years of construction experience not nearly what you need haha.