I’m Mike Reis a commercial LO for a credit union in SC with favorable terms for investment RE

I think quitting your W2 is a great long term goal.

The answer varies greatly depending on the arrangement of your deal with the owner/landlord but in general you need renters insurance to cover your contents (since you are renter presumably) and then excess liability coverage for your short term rental activities.

I have over a decade experience managing my own short/medium/long term rentals.That being said, I'm not really sure where to start in managing other's properties (I may be overthinking this quite a bit).   

However, (personal opinion) I do believe that the Beltline represents a real, physical asset that will help values stay strong in the long term (assuming you don’t overpay).

However, I also recognize the value of seeking advice and perspectives from others who may have more experience or different insights to offer.I'm particularly interested in hearing from individuals who have experience with waterfront properties, investments in the Central Florida region, or any insights on factors that contribute to property appreciation and long-term value.Additionally, if anyone has tips on structuring partnerships or attracting potential investors for such opportunities, I would greatly appreciate your input.Please feel free to share your thoughts, experiences, or any advice you may have.

Our goal in investing is long term benefits (we would like to plan for retirement and helping our kids get started as adults), also plan to gain passive income, maybe gain one property every other year or so. 

Distributing or posting any of CAR’s forms and contracts is a copyright infringement and a violation of the terms of use of our forms.

This benefits me, because I'll still collect the rental payment and have the ability to evaluate the tenant before anything more long term is signed.

Here is what is being considered:SCENARIO 1):1) Parents loan us money at X% rate.2) Loan terms would allow for early payment without penalty (we would get a conventional loan in 2-5 years to pay parents back).