This is not going to end well.

Lots of people rent houses for parties as well, and you won’t be able to do anything about it.  

A knowledgeable attorney can advise here.Create a solid operating agreement: Since you own the condo with a friend, a clear operating agreement is essential to outline responsibilities, decision-making, and profit-sharing for the LLC.To save on costs:Look for real estate attorneys who specialize in investment properties and might offer package deals for the retitling, operating agreement, and filing the LLC.Shop around for title companies that can handle the transfer smoothly and provide competitive rates.Research DIY options for setting up the LLC if your situation is straightforward, though I’d still recommend a lawyer for the transfer process itself.Good luck with the process!

I currently own a successful short-term rental in Fort Lauderdale and have identified a new property nearby that I’m confident will perform well.

These are becoming very affordable from retailers like Home Depot and Floor and Decor, and they really set you apart from builder-grade homes!

Or, you'll get so well known that other investors will want to fund your deals.Below is a piece we wrote about how to build your network and search for deals.

If it sold for $120K in 2007  , and your rent is $2000 a month , the landlord is probably cash flowing rather well .   

A-rated neighborhoods will not be affordable nor cash flow well here at under 300k.

Lake Toho is known for bass fishing.

No sure about that as buyers want to see the finished product and showing them before pictures will often not be well received.That's funny, my wife said the exact same thing about showing them the before pictures.