The role of a mentor is essential without a doubt.

You need to be able to manage Excel sheets, computer app skills, and follow up on paperwork.

Essentially that are trying to start the bidding war before it hits the market.

One of the main reasons we are interested in doing an STR is the tax benefits- we paid over $340k in taxes last year with essentially no write offs.

These laws essentially state that if you sell a controlling interest (the % is defined in the law) in a business that owns real estate then the transfer taxes are still due... and collectible once discovered.So see how this plays out.

Essentially, one of us has the seed money the other has all the tools and contacts to rehab, repair, etc.

From paperwork, to what contingencies (if any), and how to proceed in general once you have found a seller and an agreed upon price.

A CPA should confirm this, but my understanding is if it was closed and vacant, and not 'in service' at the time of purchase, it was essentially acquired for the land value.

I was lucky enough to have a family member sponsor this purchase essentially.

Too much paperwork trying to get all the sellers to agree on one contract.