The last information I saw reflected it limiting the individual investor to a max of 90 days per year allowed to do STR on a property that is not their primary residence.

You can't count on believing that the family member will not produce a handwritten lease (real or not), or other paperwork & tactics, to throw a big old wrench in your initial/expected timeline.You CAN expect that if they see you as the big old rich/developer/bad guy enemy, they will do as much damage as they can, and drag their feet as long as possible.See if you can feel out what the relative actually wants/ needs, connect/come prepared with info on resources for local "housing help" options, etc (perhaps), and figure out what you can do to solve the problem (cash for keys with an incentive for quicker move out timeframe?

Happy to connect further on this!

Lastly, if this is a good deal, you might want to add some details on this post here to entice people to DM you.All the best!

The next 5 years are going to look a lot different for investors in the market than the last 5 did.

We immediately cut a path through the overgrown back yard that connects to the main island d bike bath.

I’m happy to connect with anyone here.

As long as you've owned the home for 2 of the last 5 years. https://www.biggerpockets.com/blog/capital-gains-taxHope this helps :)

:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+, zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680, some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.

Think about what features you really want.Suggest you connect with @Dan Z. on this site for some insight.