I really appreciate any help you can provide.

My goal is to build a portfolio that provides as much income as possible within the next 5 years, so I am thinking STR. 

I do not know if any of the closing costs or construction expenses make their way to the working partner (e.g., if they're the selling agent or own the construction company, etc.)If all estimates go to plan, then the 55% net profit should provide an 18% annualized ROI for the $1M, but likely lower.

I realize I may be asking for a miracle here, but I hoped perhaps some of you great professionals could provide some wisdom.  

The only challenge I see with your request with that we have to offer is that you're looking for a hybrid equity/debt partner (like mezzanine financing) where lenders like us only provide debt financing.

You do have somewhat of a positive track record; if it can be verified you should be able to find “partners” willing to provide the capital.  

Wise investors are putting systems in place (including property managers and other service providers) so that these risks are mitigated without investor being involved.

(And, beware of promoters that are selling captive insurance as a tax-shelter; not saying that they none of them provide the purported tax benefits - just that you need a captive insurance tax expert help you make informed choices.)

These are more complex legal structures that can provide even more protection than a traditional LLC alone.

Calculating potential rental cash flow involves considering factors such as property taxes, maintenance costs, and potential rental income.Consultation with a local real estate expert can provide insights into market trends and help you navigate the specifics of converting your home to a rental property.Additionally, understanding the current market value of your property will contribute to a more accurate assessment of potential equity gains in the future.Hope this helps!