The cost of a marine grade grill is hard to justify for a STR.

But to get going, someone has to pick up the financial responsibility of the downpayment and holding costs.

If you can avoid doing an Ellis Act that'd be ideal, b/c it's still going to "cost you" in other ways.

A thorough screening system doesn’t 100% guarantee your tenant will pay rent on time and in full, but it is the best and most effective preventative measure to take.

There's the down payment, the closing costs AND the delta between what's left on the loan and their offered price.AND don't forget the time involved to assume the loan.

House hacking helps you grow wealth and cut down on your home loan costs by letting others live in your place.

I should note that I did a 1031 INTO 2 of the 3 houses, and did a cost segregation study and took accelerated depreciation on all 3 to offset 2022 taxes because I had a very profitable flip that year and I am a real estate professional per the IRS.   

@Karim Wahba, to add a little color to Chris's comment: the typical syndication costs between 10 and 15k to setup.  

Besides finding a good investor friendly real estate agent, if you're strapped for cash, then door knocking is a cost effective way to land some off-market opportunities.

Also, this new investor could have been exceptionally exaggeration of the ARV without mentioning the rehab costs and the disposition cost after completion.