That there are no unpaid or outstanding claims, bills or invoices for any labor performed upon or materials furnished to either the Tenant or Premises for which any lien or encumbrance including, without limitation, materialmen, suppliers and mechanic's liens, have been asserted or may be asserted against either the Tenant or Premises."

However, insurance is limited because it only protects you from one type of liability: accidents/negligence.

Also, I'm sure you know that $750 a month rent in Flagler County won't get you anything in the Palm Coast city limits.

In case you didn't see the recent story about Airbnb regulations and limitations from the City of Louisville... https://www.wdrb.com/in-depth/proposed--foot-rule-aims-to-limit-airbnb-homes-in/article_26a7b458-5c74-11e9-a24f-272568002667.html

Location limited to Texas, in or around cities like Victoria or Corpus Christi (not expensive MSAs like DFW, Houston, Austin).No particular asset type in mind, could be anything from retail to MF to warehouse or other.Renovation mostly non-structural, although upto 20% structural should be fine.Is there any particular asset type that typically requires major renovation?

Are they a limited partner?

I first however need to have a feasibility study done.

@Allan did your loan documention include any  no early termination clause/ mention a  termination fee , unless otherwise mentioned , I dont believe there is a blanket guideline that limits you from re-financing ,  there might be addtl costs (processing) but should be able to reFi.

With this tactic I also keep debt on the unit, which limits the amount that someone can even sue for. 

From what I have studied about this type of thing a builder will do this with an upfront fee (15-20%) and then we split profit of Sale.