The property is located on St Augustine Beach and other STRs have high occupancy rates, solid ADRs and are very profitable when managed correctly.

Electing disregarded entity status avoids additional filings while achieving the same tax outcome.This post does not create a CPA-Client relationship.

Not per checking account but per Ira LLC which is the “relationship” with the bank.  

You will quickly find, as you generate local person-to-person relationships, how many opportunities open up! 

Here are some general guidelines: Lien Position1st Position LienEquityMinimum Down Payment of 20-25% (a 30% equity to sale price is preferred)Down Payment made in certified funds and not borrowedMaximum Funding of 70% ITV (Investment to Value)SeasoningMinimum of two monthly payments already made12 months or more preferredPayer CreditCredit Score of 650 or higherNo major derogatory trade lines (No 90-180+ days delinquent, foreclosure, repossession, bankruptcy, etc.)No decline in credit since purchase of businessTermsPrefer 60 months or lessMaximum of 72 monthsNo Balloon Payment preferredCash FlowBusiness has positive cash flow1.25 debt service coverage ratio preferred.DocumentationPersonal guarantee from a creditworthy individualStandard documents including Note, Security Agreement, and UCC-1 filing.Tax Returns on the business that substantiate profit and loss statements.OtherPayment history current and verifiablePayer Interview indicating buyer is satisfied with business and comfortable making paymentsMotivation for selling the note is not a result of a deteriorating businessConsideration of high risk businesses or geographic areasIn these situations, sometimes a partial is a better option. 

Some of the materials we choose and asked him to pick up (such as flooring) he replaced with low quality materials, I assume to keep more of our money for himself. 

Consider balancing liability protection with administrative costs, and consult with a CPA to align your structure with your financial and legal goals.This post does not create a CPA-Client relationship.

For automation we also use make.com, zapier as well as go high level as a CRM to name a few

Quote from @Kaleb Johnson: Quote from @Brandon Vukelich: @Kaleb Johnson if you are serious about wholesaling, it is highly recommended that you hire a real estate attorney in your state to help you draft the docs you need, applicable in your state.

Even if these relationships don't go anywhere, you'll get a lot from just having a couple of calls.Next I would try to find some local investment groups/communities and try to chat with as many investors as you can to get an idea how other's started out in your market.