Thank you ALL so much for the input.That makes sense, and without the huge minimum payments per month I'll be able to build up cash reserves really quickly to invest.

The Arbitrage unit that we operate is owned by a friend, so we probably played a little fast and lose with our agreement with her. 

So, I ended up paying $110,000 for a $140,000 equity in the note.

Recency bias gives greater importance to the most recent event, such as the final lawyer's closing argument a jury hears before being dismissed to deliberate.In 2021 and 2022, recency fallacy told us "keep buying short term rentals, because they have been going up and will continue to do so.  

So in theory they can bounce back if all the dominos fall in the row. 

So, I'd prefer for them to stick with me as I do want to invest in another rental every 2 months or so with the same structure listed above. 

Plus, forming and dissolving LLCs is pretty affordable right now, so why take the unnecessary risk, right?

Thank you so much!

so $8000 a month is a little under that market.

I am just getting started out in multi-family investing, so would like look into smaller apartment complexes (less than 10 doors).