Then you can be in it for the long haul when the area becomes more developed and the market starts to mature.

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Hey @Martina Su, do a search as there are several threads with tons of info.The bottom line is that there are restrictions all over the place so you should get a good realtor locally who knows the areas and market to guide you.

The short term rental market in our area has been doing really well over the past year and we feel this property is a destination unto itself.

I have off market investment property inventory here in Florida.

So then the house is 10% owned by The Person, and 90% owned by The LLC (income and expenses shared accordingly).Now this year say I want to take the same percentage (10%) - and say it's a flat market and the house is still appraised at $500,000.  

Really important to do the market research, check for liens, and get eyes on it before waving that paddle at an auction. 

The American market isn't strictly RE driven. 

After doing some initial research, Avail and Innago appears to be very popular Landlord software programs.

In the Phoenix, AZ market Ceiling Fans are very popular and definitely increase the desirability of a property.