My colleagues kept telling me to get a "boots on the ground" team together first.

Check your comps carefully compare sf and condition for your rental value.

you can convert that one too.Apartments rent on AirBNB all the time, no reason you can't do it - but of course, check out what comparable units in the area are getting, get a feel for demand and occupancy rates, make sure it's going to be worth your while before you proceed.

The owner is presented by a family-member that is a broker.I did my own comparable market analysis and feel comfortable with the price and the terms.

The owner is presented by a family-member that is a broker.I did my own comparable market analysis and feel comfortable with the price and the terms.

You need to be comparable to others in the same vicinity. 

Using correct vacancy rates, tax numbers, and rent projections will allow you to compare deals across markets.

@Avery Mshawn Since its less than 5 units, the property is valued by the comparable sale method so the most accurate way to get a value are, in order: 1.

My plan is to use this capital to start my own business and just hit the ground running. 

Especially compared to a lot of the folks in this forum.