Plan was a long term hold as a short term rental.Step 2 - the plan to fund this project was through the sale of another property and monthly income/savings.

I'm also in need of a CPA/tax advisor to advise on what's the best structure from a liability protection and tax planning standpoint.Thanks for your input.

My business partner and I plan to fund around 35% of each deal as sponsor/GP, and will raise the rest from our LP's.

Also this opportunity came through a turnkey rental company so there was additional premium baked in and as an out of state investor, I was not planning to visit there and don't know anyone who lives there either.

Hello BP Community, we're having to bring an unpermitted unit in an older building up to code for a dwelling space and need plans drawn up to submit to the city.

As for an offer, start with your ARV and subtract out your renovation costs, financing costs, a reserve amount for contingencies, any profit margin if you plan on flipping it, closing costs for both the buy and sell sides, and soft costs for the permitting, etc.

Since you plan to put that money into another property, I recommend a refi. 

If you plan on buying more rentals in the short term, Nathan's approach is the best. 

Some things I advise folks having seen partnerships go south - Get really clear not just on who does what but contingency plans.

So either AirBnB thinks the new law doesn't apply to the cleaning fee, or they're still planning to do the same with that before July 1.In any case, it appears hosts will still be able to configure whatever fees they like for cleaning, pets, extra guests, whatever.