The image below is the Google Task I have set up.

I’m actually interested in short term honestly Air bnb arbitrage was highly recommended for me to start off.

You might want it to go to your parents, or a sibling, or maybe a child you have.If you're investing with a partner I would use tenants in common instead of joint tenancy; however, if it is an investment I would highly recommend some entity own the property and have the documents for that entity describe exactly what happens to the property in different situations.I hope that help clarify some different situations when one type of ownership is better than another.

My biggest concern is: I would like to have this property cash flow $200 monthly and I'm not sure if the market would be able to support that high amount of rent.

I frequently see investors get rigid and want too high a cap rate with the starting 45 day ID period for 1031 then at last second they panic and have to get in something.

The more energy efficient the shell is, the lower the cost of energy, which is highly marketable. 

So, an honest appraiser won't value it based just on the high level numbers you are looking at.

Even if you do a cash out refi, you still need to pay off the initial loan, and then will not have enough money to pay all cash on the next and so on when prices are at a high premium.   

Real estate has high transaction costs.

For other folks, here are some other entities that would, if you sold the property to, have negative tax consequences: YouYour spouseAny of your lineal ascendants or descendants (parents, children, grandchildren, and the spouses of children, grandchildren, — including legally adopted children)Any investment providers or fiduciaries of the IRAAny entity (like a corporation, LLC, or trust) where a disqualified person owns more than 50%Any entity (like previously listed) where the IRA account-holder is an officer, director, a 10% or more shareholder, or a highly compensated employee