The STR is a lot more work and even if you get a manger, you may have to be involved.

@Tom EvansCongrats on the potential STR in AZ.As for a shared well agreement, they can be tricky (even when it does not involve STR usage).

Meanwhile the property was deteriorating and tenants complained and got Dallas County Housing Authority involved.  

Structuring a 203(k) loan for your partnership involves some creative thinking, but it’s definitely worth exploring.

A common strategy used by investors, such as those operating through PadSplit, involves purchasing the property, completing basic rehab, refinancing, and then using cash for the interior build-out.Another potential red flag, even without converting common areas, is the addition of individual locks on bedroom doors.

Your best bet is to consult with a good broker that has experience with business insurance and RE.

@Jonathan Cooper - Sounds like a short-tax year is involved.

Hey Randy, I'm glad to connect and discuss potential ways to get involved and learn about real estate investing through flipping.

I've been involved in a lawsuit that settled right at a million dollars, and that was over 20 years ago.

Don't get involved at all in domestic violence - who stays, who goes, taking sides, etc.