I'm really interested in long term rentals along with Air B&B/VRBO. 

I am acquiring an assisted living home (RE+business).RE appraised for $1,320,000Business for $80k.I have the RE portion already financed through banks but am needing $80k for the business to get the deal done.I’m looking for $80k short term loan for at least 6 months so that I have enough time to get a more stabilized business loan.

What were their terms?

What terms are they offering?

As you write checks and make deposits your income tax return is preparing itself.At the end of the tax year print a simple Profit and Loss report for the time period and hand it to your bookkeeper or CPAYou still need to keep receipts for seven years or so but the works does itself as you write and code each check.Even if you file as an LLC, Partnership or corporation your CPA will thank you.

Obviously I don't know where exactly your property is, but even if it's south of the sports arenas (which can be pretty rough), it will worth it in the long term. 

Hoping to learn more about: best practices, risk management, legal Considerations, and most important building long trust term relationships with borrowers.I deeply believe in the power of community and learning from each other's experiences.

@Yu Xiao, using that property as a short term rental during the time you own it will open up some additional tax saving potential as will doing a cost segregation study to take advantage of some accelerated depreciation.  

The site prep can vary wildly using your terms depending on what is needed. 

Both leases are at the end of their term.