First step is to check with the city or county to determine if you can do what you want to do and what is required for all zoning approvals and the time frame, Ask if you have to install curb, gutter, sidewalks, street signs, street lighting or any other special requirements. 

Generally if you average 7 or fewer nights or 8-30 nights and provide "substantial" services such as tours, house cleaning during a stay, meals, etc you DO have to pay self employment tax.Kudos to this CPA site (tarlow. com/2018/01/02/tax-ramifications-short-term-rental/):"When property is rented for short periods, special (and sometimes complex) taxation rules come into play, which can make the rents excludable from taxation; other situations may force the rental income and expenses to be reported on Schedule C (as opposed to Schedule E).If you have been renting your home or second home for short periods of time, here is a synopsis of the rules governing short-term rentals so you can prepare yourself for the upcoming tax season.Rented for Fewer Than 15 Days During the Year: If you rent your property for fewer than 15 days during the tax year, the rental income is not reportable, and the expenses associated with that rental are not deductible.

If something goes wrong, such as a major hurricane or special assessment from the condo, you get hit double.

Nothing special about them, they got the job done :)

We got our loan as a special "first time home buyer" loan that came with a second mortgage to make up what we were missing for the down payment.

Randy - our group specializes in acquiring and operating student apartments.

IE if all 10 partners receive a straight 10%, would be alower fee than if there are special allocations of any kind.Without knowing any other information, at the firm I am at, $2,500 would be a reasonable fee for a real estate property with 10 partners.

It would be a great idea to go to some of the wholesale meetups here locally and I will get you in touch with some of those people that specialize in just that. 

There is some grey area allowing exceptions for certain special cases.

When looking at their records, there is also a special assessment for almost 50k.