Essentially it would work something like this…1) My LLC purchases the property 2) He will only charge me COST on the labor and materials (no profit or markups) which will save me around 30% on regular contract figure he gives me in my market which is very expensive 3) He will also make 300k of his own liquidity available to inject into the deal (I will put some of my own cash in and get a HML loan for the rest).

Are the ads updated regularly?

The first is the regular business address and the second is the registered agent's address. 

My question to the group is if I should rent or try the Air B&B route?

Not sure how many STRs you have thus far, but if you are just starting out, I highly recommend looking into the mountain markets due to year round tourism, it is the safest route into the short term rental world in my opinion and markets like the Smokies and Blue Ridge, GA are established and could end up a much lower risk!

ESPECIALLY if your income is less than 80% of the Area Median income (AMI), you can get a Home Ready (Fannie) or Home Possible (Freddie) program which offers even better rates than regular conventional, and only requires 3% down EVEN if you're NOT a first time buyer.

Can you have 2 regular trash bins per unit?

Why did we take this route? 

Sounds like 506(b) would be the better option--if you go that route, be sure you have evidence that your investors were in your personal network as you can't generally solicit the deal.  

The "worst" case scenario is to have to pay off the 20k upfront and up to a year of regular payments.