One thing you might also consider when choosing a place to invest out of state is; After you have property there you can visit the area for business and a have tax write off.

I am currently looking through different markets and reading as much about the details of making this a business as I can.

I had to put money on a personal credit card and I had to open a business credit card to cover. 

I am about to purchase a property in Miami Beach to do STR, and I'm so excited to start my Airbnb business venture. 

They are a Purchase & Sale Agreement, Title Report, Power of Attorney, Disclosures, Closing Statement, Payoffs and a business card to a good attorney to get you out of the mess you will create if you try doing this on your own.But use somebody, like us, that actually knows what they are doing to learn this.

Previous business partner How did you finance this deal?

Even though they are family, I recommend you treat them as business partner in this scenario. 

STR is not intrinsically real estate; it is a business that uses real estate.

Personally I work in the lending business and would love to inform you on my experience based up on what my clients typically go for.

Do you have his business name by any chance?