If you want a butterfly museum as an acquisition fee they will add it, maybe...As @Ashton Levarek, these can be customized and highly detailed. 40-60 pages of a PPM are not uncommon, hence why it takes 3-4 weeks to deliver it. ...And of course then you must reread it yourself to ensure you are not missing anything...The second go around will be easier as you have your own template in place from the first unless the structure changes dramatically.My recommendation is either invest passively on a deal to gain access to the documents and see firsthand how they work and the process unfolds.

@Daniel KarbownikAs @Brian Burke elegantly put it, you must work with US securities attorney to be ensure compliance with SEC regulations.

My first STR is more about establishing my process and ensuring that I enjoy it, and then expanding. 

As @Taylor L. mentioned, it's important to always do your due diligence to research any team you are considering working with along with the markets & investment opportunities to ensure they fit your goals/criteria. 

A single ****up will cause you to have written evidence that you promised something to a guest you cannot execute on, and grant them a refund.They already have programs that safely identify common questions and give boilerplate responses, so you can control the responses and ensure you aren't saying things you can't promise.What if a guest asks if they can do early checkin? 

It is always a good idea to consult with a real estate attorney and a real estate agent to ensure that you understand the process and have all necessary paperwork in order.

As a property owner, it's your responsibility to ensure that your properties are well-maintained, attract high-quality tenants, and maximize rental income.

➡️Legal responsibilities: As a landlord, you have certain legal responsibilities to your tenants, such as ensuring that the property is safe and habitable.

I would never go with a national lender suggested by a turnkey company; reason being they most likely have higher rates because they are being fed leads by turnkey companies and need to pay for those affiliate deals.Rates change daily so if you're shopping for quotes ask for the same rate with the same down payment on the same day from multiple people to ensure apples to apples comparison. 

This is my assumption that you will want to maximize the FAR to get the most out of the property financially, but there are many things to consider in order for the property to cash flow; such as building while occupied or ensuring that the property is not in the coastal omission zone (they make development very challenging, especially out there)