Barring anything crazy, I anticipate to get there within the next 1-2 years (15 more units to go).This will put my passive income somewhere in the neighborhood of $15k/month or $180k/year.

Purchase price: $389,000 Cash invested: $120,000 Sale price: $710,000 Investment Highlights:- Located in a fast and solid growing neighborhood close to restaurants, bars, art shops, art galleries and tech oriented co-working buildings. - ​Fully upgraded with energy saving high impact windows, new AC units, new electrical panels, plumbing, new kitchens, stainless steel appliances, each building has its own energy efficient washer and dryer, energy saving lightings, landscaping, new high quality porcelain floors.​- No flooding area.- ​8 street parking spaces.

My main question is:Since I am licensed, so I have to use the state-regulated FAR/BAR contract?

Okay, so my offer on primary was accepted, and barring craziness, closing in March. 

I know that's a legal question and we were at the attornies today for that.. but they are thinking knowing the potential value of the property over 50 million and our option price is only 5.5 he may not go easily.one thought I had is to just not make our May payment and come June 15th the option Is voided for none payments.. of course we lose our 1.5 million we put in.. but I am pretty sure I can do a new deal without the other partner.. the other partner is persona non grata and of course he could make the payment but he has deep legal issues so won't be doing that.. so my question is    is there a way that this seller who has taken 1.5 million in option money from us over the last 10 years and he can cancel that deal and just strike a deal with us basically 3.4 of the same partners under the same terms and conditions and just rewrite the deal in a new entityOr will he have to claim all that 1.5 million as ordinary income in 2018 which would be pretty harsh on him.. in fact I don't think he has the money to pay it.. so he would probably have to sell the land he could not encumber it.. because of the long term nature of the land  its 120 acres right on the border of the city limits 1.5 miles from Intel.. its going to come in one day and when it does katy bar the door on value..

Andrew, is there much of a STR market in Florida beach cities in the downtown areas where restaurants, bars, and shopping are?

The house is very charming, in a very quiet area at the end of a dead-end street, yet within walking distance of a vibrant downtown area with stores, bars and restaurants.

The house is very charming, in a very quiet area at the end of a dead-end street, yet within walking distance of a vibrant downtown area with stores, bars and restaurants.

What's changed is the bar of required professionalism has raised, significantly. 

I get your restaurant analogy, but it's wildly flawed, here is how: What your arguing is one would go out and look at a Subway, look at a McDonalds, look at a sandwich truck, look at a "Mom-Pop" Taco joint, look at a fine dining and a spot's bar and a casual fine dining AND THEN decide which to jump in based on some metric of the business.