I'm not saying its foolproof, but it will go a loooong way in reducing the stress, time and effort you are going to put into starting a home.

This wasn’t our first go with short term rentals.

If you're not planning to live in the property long-term, I'd suggest prioritizing the property's standalone investment potential during evaluation, regardless of its role in a house-hack scenario.

I currently own my primary residence and recently decided to buy a piece of raw land where my father’s construction company is, and with his help,  build a single family home on it which will become a long term rental when completed. 

Rentals are the best for building long term wealth building.

I’d rather the potential for long term residual “passive income” as opposed to a one time profit.

@Lilly FangThe way I have done this in the past was I had a lien on the property and let the property be in the name of the partner but we had a jv agreement outlining the terms of the profit split on the deal

I would also explore the different rental strategies- long-term, medium-term, short-term, or rent-by-the-room.

Current lease term (expiration date, month-to-month)7.

We will most likely be doing a long term rental.