I'd recommend reaching out to Jordan Wildman with EXP who's a local real estate agent and investor in the Fort Wayne to get started in the market.Fort Wayne offers a number of different investment options from older multi-families (more labor intensive) to new construction build to rent.

I think this property is a great site to build a mixed-use space.

Your brother-in-law’s 10% ownership won’t affect your ability to claim this exclusion on your portion.Unfortunately, the option to roll proceeds into another property (like a 1031 exchange) only applies to investment properties, not personal residences.You’re likely eligible for the exclusion, but I recommend confirming with a Tennessee tax professional for any specific state tax issues and to verify your status with overseas residency.Let me know if you need more guidance on this or related financing!

Also any book recommendations on STR's are appreciated. 

I realize that many new construction homes and some existing home listings are never entered into the MLS, but I don’t see that affecting the high level results I’m shooting for.

If not, I recommend commissioning one and only taking their counsel on tax-specific questions.I have a list I keep updated and recommend through our REI bookkeeping firm if you don't currently have one.They can walk you through exactly what you can and cannot write off during these trips and what you need to document in order to write things off.It's not necessarily a simple "yes" or "no".

My initial recommendation is tighten up your lease.  

The only other thing I would add is that if you decide to buy another property (with or without selling) I'd highly recommend you do that before the anticipated rate drops.

Meaning the quality and retention level of renters is high and thereby increases demand for new rentals with the increasing population growth of 1% per year.- Mobile is home of Mardi Gras which brings in a whopping quarter-of-a-billion dollars in revenue and sends hundreds of thousands of tourists to the city each year.- Mobile has the only cancer research center along the upper gulf coast providing a wide array of medical jobs to the area.- Mobile’s low cost of living and doing business provides a desired aspect to renters that can’t be achieved elsewhere, which provides a steady influx of renters thereby decreasing vacancy rates.

I recommend talking with a CPA who knows your personal situation.