There are very specific requirements that must be completed for a legal cellar basement to be rented out.

Here's  a quick summary of my scenario:I just completed a new construction and expect to close the sale within the next 30-45 days. 

Sounds like you are off to a reat start.

Sounds like the opposite type of person you want in your asset.  

I haven't heard of the "Binder" technique before, but it sounds like a great idea.As for increasing the Studio ADR, we are considering offering guests a half a dozen fresh eggs for breakfast since we have chickens. 

Regular vacation properties and second homes can struggle to qualify for a 1031 exchange, but this property in La sounds like it might live in a gray area.Your first step is to make sure that this property is a good candidate for an exchange.

But sounds like your looking for a turnkey property relatively soon.

This may sound like a lot of work but again, use software to automateFinal ThoughtsThe STR/MTR space is getting crowded.

Completely liquid, and can close on a deal in four to five days. 

I am not a lawyer but you are likely required by your state law to give a receipt of work completed if you are keeping their deposit.