While I secured the initial financing for the property, I have two other partners/groupings (a total of 6 people) that are contributing to the closing. 

Details here: https://www.biggerpockets.com/forums/521/topics/1214849-dmv-...I recommend checking them all out initially, I bet you'll have a lot of fun networking!

Purchase price: $500,000 Cash invested: $100,000 Buy and hold multi-family property initially house-hacked prior to purchasing the single family in the burbs.

I took a few weeks off, but quicl update here: I took a few L's on options and going to give that a few week break.my current initiative for June is finding and attending a real estate investor networking event every week!

PROGRAM 2 Owner use up to 3 weeks 40% of Adjusted Gross Standard FF&E in high season & 3 weeks Revenues from the Unit and accessory in low season package required.PROGRAM 3 Owner use up to 6 weeks 30% of Adjusted Gross Standard FF&E in high season & 6 weeks Revenues from the Unit and accessory in low season package required.HIGH SEASON: DECEMBER 21st - APRIL 15th LOW SEASON: APRIL 16th - DECEMBER 20thNote: The following fees are deducted from the gross revenue before the split:5% Management fee, 5% Travel Agent Commissions, 2% Credit Card Commissions, $4.00 per occupiedroom night (TRUMP Fee) & Group meeting fee may apply.Other Monthly Fees: 4% of the gross revenue is moved to the FF&E Reserve account and approximately$20 for liability insurance.Monthly Condominium Dues: $895.57 (These can be deducted from your monthly revenue)Initial Rental Program enrollment fee $500 and $2500 initial FF&E Reserve account contribution.Fees for OWNERS STAYS: In Rental Program (Optional): 1

In turn, this makes me a big fan of HELCOs, but still, that initial investment is going to be a tough one.

We plan to go the most cost-effective route initially, and then adjust later as we build more experience/reserves.Thanks again for all the great feedback!

Most guests are willing to provide feedback, especially given the upfront touches/relationship we try and drive initially. 

Initially, we were thinking to make an LLC.

My initial plan is hold the properties for at least 5-10 years so for now I'm not doing BRRRR.I feel high crime rate can be overstated at times.