Would greatly appreciate any Realtor recommendations that you've worked with in purchasing an AirBNB who would know more about local ordinances/best areas to buy as well.Thanks for the help!

If the option to purchase isn’t exercised, he can sublet the deal again to another tenant/buyer, possibly with increased rent and purchase price, depending upon the local real estate market. 

Since I'm out-of-state I have a local property manager who handles all bookings and keeps me informed on maintenance needs.

We have good friends who are taking this approach  and we understand all the requirements we need to meet, which we are confident she will be able to do. 

I'm a local real estate broker and property manager.  

It's my understanding that you need someone that is local to be a majority owner (for many of the Asian countries).

Investing in New Builds: Considerations and ProcessNew Build Investment Options:Build and Sell (Fix and Flip):Pros: Potential for high profits with modern appeal.Cons: Requires significant upfront investment and market risks.Build and Hold (Long-term Rental):Pros: Attracts quality tenants, potential for higher rental income.Cons: High initial costs, market fluctuations.Process Overview:Market Research: Identify high-demand areas.Land Acquisition: Purchase suitable land.Design and Planning: Work with architects and obtain permits.Construction: Oversee build quality and manage costs.Marketing (Fix and Flip): Highlight new features to attract buyers.Tenant Management (Rental): Implement thorough screening processes.Advice:Educate Yourself: Understand local regulations and market dynamics.Risk Management: Prepare for potential delays and cost overruns.If you have any other questions/just want to discuss feel free to reach out to me directly!

If you create a new partnership then you are not meeting the same taxpayer requirements of the 1031 exchange. 

A book I’m reading mentions “taxes” should be included in operating expenses but they don’t specify what type of taxes.All it says is “call your local county or look online at the county assessor’s page”No clue what that means, could someone clarify what taxes they’re referring to?

@Bob Beach we've got a few local "mom & pop" sized PMC competitors that are infamous for similar behaviors.