Keep milking it as long as you stay of the radar with the airbnb vs rules regulations of the county and condo association.

I can't imagine a bank or even the government will give a $50K loan to a new LLC. 

Each designated LLC has its own governing documents establishing its members, managers, and membership interests.

I see a lot of local inflation-indexed payrolls (government) (going up), and no FED pivot (yet) (going down).

If I can get either a ready to build lot or small place with land at a good price, with fairly low regulation zoning requirements, there should be a healthy profit margin at 3-4 STRs...

That's awesome, a 24-unit could be a game changer for passive income.I can send you a due diligence checklist our team put together for multifamily and that might be really helpful for you (if anyone else is interested, I am happy to share with anyone who would like to see it).Here are good documents to gather / steps to complete during the due diligence process:- Appraisals- As-built construction documents (see what the build quality is and set up for electrical, HVAC, etc)- Easements- Encumbrances- Environmental reports and related correspondence- Government notices- Leases (with rent roll to verify)- Photographs - insist on looking at EVERY unit, otherwise you'll only see the ones the seller wants you to see- Previous site plans- Property surveys- Recent tax bills (can call the county to ask for an estimate on tax bills after sale)- Soil reports- Title reports, commitments, and policies- Zoning documents- Any other legal documents of significance that the seller has

If this is going nowhere, I'd like my escrow money back.If the owner hasn’t tried to collect in three years, you can redeem through sdat, no need to track down owner/heirs etc. so just be patient while sdat works through it, pretty much every government agency is understaffed/overworked since Covid. 

Without it, the entity has no formal corporate governance. 

Know the regulations of the area (for example are STRs allowed etc).

The reality is that mortgage rates aren’t dropping back to 3’s and 4’s again for a long time, if ever with all this government spending.