Does the 10% pref with a 50/50 profit share seem equitable given the project's scope and profit potential? 

You could potentially be making payments on that cash which you aren't even using...A HELOC usually comes with a 10-year draw period that you can use when needed.

Most potential renters who are searching are not on both VRBO and Airbnb.   

Northern Ky (NOT Louisville) is over shadowed by Cincy a lot so there is a lot of potential there just like Cincinnati.

And you would pay potentially ordnary income tax on the commission.the time to consider this is if you are having a down year or have some pent up losses you can bring to bear. 

Seems like there is a lot of potential!

Ok, so let's examine a potential deal:Purchase: 175kRehab: 55kARV: 350kSo right away, I wanna take the ARV and multiply it by 72.5%.

Looking to do a deep dive into HOA's of potential condos I plan on purchasing in So.

I should focus the proposal more on the potential interest opportunity vs the tax implications. 

I'm thinking you can use this code 541613 - Marketing Consulting Services: As your business utilizes marketing strategies to find motivated sellers and potential buyers, this code can reflect the marketing efforts you engage in to promote your properties.