This structure give you the ability to have a uniform Liability limit of $1M - $5M over all of your assets.

I started with no money and limited experience, so at that time partnerships were good options for me. 

I too live just west of Fort Worth (technically still in city limits but back up to ranch land).

The other issue is low liquidity from debt providers in ABQ for that asset -- they want really stiff terms, have low lending limits.

According to the article below "borrowers will receive favorable pricing in exchange for limiting rent growth on 80% of the units in the property and keeping them at levels considered workforce housing for the life of the loan."

Probably in the city of Oceanside.My target city currently has no limitations to STR.

@Clark Childers HML only for a limited time. 4 to 6 months. then rental refinance out of it.

There are a few pros to getting your license including but not limited to:Access to the MLSBeing able to see properties quickly, without needing your agent to tag alongSaving half the commission on the sell side of your dealBut there is the additional costs of continuing education and splits or fees you may pay to hang your license with a brokerage.

If all you have is GP, then why would you spend $15,000 on legal for a limited partnership?

You may be able to work out a seller assistance to help pay closing, and limit the amount out of pocket.