Definitely do your diligence before underwriting any acquisition that only pencils as an STR. 

I have definitely thought about some of those questions.

I’ll definitely be in touch.

And check that it is legal...quite a few states will not even allow you to do the Owner/Builder thing except on your own residence.

Not a slumlord but it is a historic building and we don't have overhead lights so that is a definite fail.

Will an LLC or Trust help with legal protection?

Provide a signed copy of the NoteThe investor should be identified as follows:For all investments: Client First Name Last Name>, legal owner via non-trust custodial IRA with AETBe sure to indicate % of ownership on title for multiple investorsSigning of documents:On a go-forward basis we will no longer sign documents.Due to the titling change, the account holder will be the only one that can sign the documents (with the new vesting)Excluded States:Because of a variety of issues we have encountered with the following locations we will no longer accept IRA investing real estate transactions in the following areas: The State of Maryland, The State of South Carolina, The State of New York, Cook County, Chicago, Illinois, The State of Georgia, The State of Florida.

An LLC is useful for two things: anonymity and legal protection.

definitely agree.

The wholesaler who has the portfolio has all of the properties tied to one contract, and due to some prior legal disputes, this contract is actually 3 years old and just received a judicial order allowing the buyer to proceed to closing.