If it's been more that 6-7 years I'm sure you've seen a massive return.

Hi Everyone, I took massive action and bought a Triplex for the purpose of STR. 

@David B. has a good take on reducing the complexity while not using an LLC (if I have read that correctly).This is a complex topic with massive upside potential.

My concern is anticipating he may try to hang the permit over my head, and propose a massive change order to complete the remaining scope to comply with the permit, so he can be made "whole" from floating the permitting costs. 

Instead of 4.500% rate, a deal like this today would probably price out at 6.250%, a MASSIVE increase of 175 bps, or almost 40%.

@Craig Curelop, the massive action you mentioned reminded me of the book 10X by Grant Cardone, heard of it?

So take a close look at the PPM and Operating Agreement.If the intent is to hold the property for 30 years, I think Warren Buffet would recommend investing into the S&P 500 instead.

He did not wait for the inspection to begin the due diligence process. ...and it saved me $35k-55k and a massive headache.

Please let me know if this is a massive waste of my time.

@Andre O. as Warren Buffet said " Be greedy when others are fearful, and fearful when others are greedy."