I have already decided NOLA is definitely not on my list for STR's due to all of the loops that are in place.

I'll definitely research it.  

What is your definition of gut?

@Sasan Nemabakhsh...Feel free to take what I'm going to respond with a grain of salt, and while not exactly the same, I've worked on some hospitality construction financing, and the lender I've placed with has appetite for ALF construction.I don't know about construction cap, but end should be running at a 8ish, on ALF, from my knowledge.You should definitely get a 3rd party feasibility study done to determine the answer to the question of market due diligence.  

Hey @John Michael Rico,  not to sound rude but if you "think it's 4 units" then you definitely need to get a competent contractor out there to help provide comments and a quote for you.

@Antoine Martel - That makes perfect sense...I setup searches for Buyers all the time- so I will definitely do this.  

Best of luck and definitely let us know how it goes!

I will definitely consider this advice and go over the terms and conditions with my partner.

I am definitely not looking into complex legal things like starting a fund.

The policy that Airbnb has only covers damages, not liability, so you definitely want to make sure you have robust liability insurance just in case something happens to someone on your property!