There have been multiple revisions this YEAR alone for state regulations that most leases online will not have updates on. 

@Brad Herb Investing in a syndication via a Self-Directed IRA (SDIRA) offers tax advantages but comes with fees and limitations:Advantages:Tax Benefits: Gains grow tax-deferred (Traditional SDIRA) or tax-free (Roth SDIRA).Avoid Penalties: Keeps funds in the IRA, avoiding early withdrawal penalties.Diversification: Adds real estate syndications to your retirement portfolio.Disadvantages:Fees: Setup, custodian, and administrative fees can reduce returns.UBIT: If the syndication uses debt, income may be subject to Unrelated Business Income Tax (UBIT).Complexity: Strict rules; all income/expenses must flow through the SDIRA.Illiquidity: Syndications are long-term, locking up funds.Use an SDIRA if the investment is significant and the UBIT impact is minimal, especially with a Roth SDIRA for tax-free growth.Remember that RE, outside of retirement accounts, provides the biggest tax benefits.This post does not create a CPA-Client relationship.

I would anticipate about 40k gross per year based on what we get from the other STR, so I don’t think it will be strictly an appreciation play.

Your question is should you pay cash or get a mortgage.The investment calculators will say you will have a higher return on investment using as little of your own money as possible.Depending on your goals, like if you want to buy more rentals, this may be a wise strategy to put as little down as possible.However, if you are strictly looking to maximize your cashflow, having a paid off house is great.Honestly, I have a bit of both but like having the house paid off.

There's plenty of regulation surrounding the STR industry, but it's perfectly legal and welcome here.

Definitely go the legal route here, don't rent out the basement unless you have the OK from the relevant authorities--it's regulated for a reason (fire safety, carbon monoxide poisoning, etc.) and your insurance will not have your back if something goes wrong.

Quote from @David Pennington: I followed @Jay Hinrichs advice and checked with the county and they have no zoning regulations about drilling.

They've come down strict on one of my clients before.

Here are some key criteria for evaluating a Cost Segregation provider:- Seek out a Certified Cost Segregation Professional- Consider their experience with tangible property regulations.

If you're unsure when you'll be moving, a ski-lease or mid-term lease might be an option.Truckee (City) has regulations on short-term rentals and a waiting list for permits.