I know "first time" operators that have raised $50mm blind pool funds, but "first time" means they have 30+ yrs of experience in their specific asset class of real estate.  

What would you suggest so I can create income and perhaps make a better financial decision for myself.

We have a lakehouse that we're considering listing as an STR part time. Do we need to convert the deed to an LLC first? Do we cancel our homeowners insurance and replace with commercial insurance? 

And pivot geographic locations...or asset classes. 

If it doesn't make financial sense to do the study with the engineer, its probably not worth doing. 

That is the only tenant profile I'd allow it for because they're relying on financial aid or being funded by parents.

Include this in your sales pitch when reaching out.3) Offer STR services to build up cash and get your foot in the door...Cleaning, eyes on the property, landscaping, running to the store, small tasks such as a mail collection/trash day, offer a STR experience such as setting up for bachelor/bachelorette parties or grocery runs, etc...I think there's a missed opportunity with service based businesses and STRs. 

I'm financially stable with good income, low debt, and good credit score. 

2) What is the best cashflowing asset class in the market you are in?  

I have different proformas for differen ttypes of assets but its hard to configure for flex space. willing to buy , thanks Yes, I have a great pro forma I will share will share for free.