Good example, I had a slight pricing and supply chain issue on some needed materials, I could have thrown $ at the problem but instead I made some calls and I bought a partial rail car of the material, lined up my own motor carrier, was able to cut 2 middle-men out of logistical chain, 1 1/2hr drive to rail yard to personally supervise and we got out materials, faster than anyone could deliver, for 30% discounting AFTER all associated costs.

I think you have a pretty good grasp of things, but if there aren't many STR with your capacity you may be under cutting your own prices without knowing.

Preferred return is what you get paid before GP get their cut. 

I was wondering if there are companies out there who work as an intermediary to do that, I cut them the check and they go to the county on my behalf? 

The previous owner scheduled the power to be cut off. 

I'm never in a rush to bring it back to the property, somebody said (it was jordan belfort), "In-between the (2) straight-lines is where all the magic happens"!

This is why I suggested talking to his attorney about doing an LLC because it seems pretty straight forward.

I mostly chose the career path of CS in order grow capital for my real estate investing faster, and I'm very happy with that decision.I think tech is an amazing field to work in alongside real estate investing; find a company that respects your life outside of work, and remote or hybrid work helps with cutting out commute time!

The financial analysis should be straight-forward: is it worth it to you to continue renting (you make $/yr) or sell (you make $$$ one-time).

I have mentioned to him about giving him majority ownership in that LLC and then buying it that way then either buy the LLC or the LLC will sell it to him for the original price minus my cut or whatever but I am not positive about how to legally do that or anything.I am really a green horn who had an opportunity to help other people while hopefully earn a bit of money for it.