Thinking about taking a little cash out, mixing it with personal savings and going after another property with a nice down payment as a hedge against market fluctuations. 

- How many personal use days (sometimes including family or other discounted renters) do you plan to have? 

Plus a lot of general public started doing that which is the signal for the end... kinda like a good night club going down hill.Moreover, the tax implications for vacation home rentals vary based on how often the property is rented out and used personally.

So my thought on this is that I wouldn’t (personal preference) engage in a subject to transaction with anyone other than an experienced investor on the other side of the transaction.  

I thought James was a respectable no-nonsense person?

At that rent point, maintenance, cap expense, and tenant turn over will consume a lot of the rent resulting in low cash flow per unit.  

I’m personally happier entering into longer leases, even though they purport to offer premiums over market rents.

If we chose to convert it to rental, and keep all that money completely seperate from our personal finances, do we do it all in his name? 

And you likely haven't faced life on a downturn, it all comes down at once and it's kind of correlated professionally and personally. 

I'm the principal broker for Hardin Realty & Property Management -- We encourage agents to invest and complete personal transactions!