I see a RESET potential for the AMERO to come back into picture.

@Hector Lewis - The decision ultimately depends on your current cash reserves relative to your financial needs, as well as your willingness to reinvest for potential appreciation.

You can't show the home to potential buyers.

Seems like you are only 1-2 properties away from potentially replacing your civil engineering income.

It seems every market goes through a cycle -- unnoticed potential; early titillation as the potential becomes known; flood gates open and gold rush is on; property prices rise, revenues drop, regulations come in; and finally balance is found.

Regulations & Compliance: What's the best way to research local STR laws and avoid potential regulatory issues?

Big potential downside- both a selling and buying agent are involved here and I believe they're expecting their 3% each. 

Which is very complex and costly and likely warrants professional help.Now, if it's just you and your spouse, then your 2024 tax preparation is likely relatively straightforward:- you will create a Schedule C on your personal tax return- you will NOT report any costs of purchasing the property or its rehab, not in 2024- you will report your business overhead expenses such as marketing, driving, technology etc- you will end up with a business schedule showing zero income and some expenses - not breaking the rules but potentially raising an audit flagCan you do it yourself?

Additionally, the price point is still cheap enough to find the 1% rule and positive cash flow and there's amazing appreciation potential.

The sale failed and he still owns it.One of the potential solutions is to use an SBA 504 loan for the real estate.