Since you mention you have a partner, setting up an operating agreement is key to defining roles, responsibilities, and profit splits to avoid conflicts down the road.A few key tips to protect yourself:✅ Use separate bank accounts and keep finances clean✅ Get the right insurance (general liability + builder’s risk)✅ Have a solid contract with contractors to avoid surprises✅ Always verify permits and city regulations to stay compliantI still strongly advise you to work with local professionals, I’m happy to point you in the right direction!

  (2) Variable cost: platform fees from Airbnb and VRBO, lodging/hotel/transit or whatever pass-through tax your local AHJ requires, cleaning fee, cost of replacement for consumables, repair and maintenance, etc. 

@Peter GoellerBecause they way Sec8 does it, is that their local Sec8 inspector is suppose to the know the market rate.So, let me clarify this. 

I'm Tamara, a local agent and investor in the NC area! 

He used to be a regular presenter at one of the local REIAs.

I'm a local real estate broker, investor, and manager (100+ rentals, mostly Airbnb/STR and multifamily).House hacking is a tried-and-true method and in Sacramento you can produce some meaningful income while enjoying the appreciation and tax benefits of owning real estate.

I'm a local real estate agent and would love to help you out on making this deal work.

I have tried local governments sites with little luck. 

Since you're open to markets beyond NYC, you might want to connect with local investor meetups or REI groups in those areas to build relationships with agents, wholesalers, and lenders who understand the nuances of each market.If you're looking to break out of analysis paralysis, maybe start by narrowing down one or two target markets and running numbers on actual deals.

I am local here in Oklhoma