It’s best to consult a CPA for advice on liability and tax implications.

It's a cheat code.I recommend consulting an REI-savvy tax pro for these types of questions.

Before that, it’s worth consulting a financial advisor to make sure you’re making the right call for your situation.

Having a consultant who has worked with the agencies before is a huge plus.Alongside the developer, creating a defined site plan is needed to determine the improvement & infrastructure cost. 

Consult a tax pro to maximize these benefits!

I’d recommend starting with resources like Short-Term Rental, Long-Term Wealth by Avery Carl and real estate podcasts like BiggerPockets, connecting with investors in vacation rental groups, and researching reliable management companies in your target areas to make the process as hands-off as possible.

My suspicion is that we probably will see little or no money and should investigate using our losses as tax-write offs (consult your lawyer/tax advisor).

Partnering with a strong team—such as a knowledgeable realtor, property manager, and reliable contractors—will also be key to your success.

You can see if the title company/escrow company will pay them an invoice for a consulting fee.

Check with your lender and consult a tax professional to ensure proper structuring for interest deductions.