The seller is an individual that I have worked with before.

Cashflow gets deposited into the joint account and then paid out to the individual owners based on their share.

My thought is then using an investment property and renting out the rooms to individuals (probably college students).

Hi everybody- One of my goals this year is to build/join a team of high character individuals in the business (agents and brokers, local lenders, attorney, CPA, contractors, property management, and so on...)  

Keep in mind your individual goals determine what a good and bad deal are. 

I have spoken with an attorney about tax sale properties before purchasing and he indicates we should be able to overcome the redemption period hurdle to move forward with selling properties.

I am looking to make some connections and/or get some feedback from individuals that have STR's along the coast. 1.

There were some immediate capex upgrades and there are also annual capex upgrades budgeted for, this will also correlate to updating individual unit rents to near market values.  

I'm going to talk to him more, because the policy appears to indicate that he can.

Like paperwork to indicate that it will be directly used as an investment.