Make sure if you do that to go through a commercial attorney familiar with syndications and procedures for capital raising. 

@Amanda Webb I can't speak to the regulations but if the primary motivation is ROI it probably isn't worth it you can get better returns elsewhere, if you want to use the cabin part of the time then I would continue the search and understand that it will be an Air BnB subsidized vacation home and not an investment.

HOA fees typically just eat into cash flow without providing much value (although sometimes they include utilities) and many will have rental regulations that could affect the rental performance in the long term. 

Will there be any extra paperwork or procedures with it?

That is fairly normal operating procedure in the rental business.

in our area new construction MF has been booming  but I think there is going to be an over saturation and some softening in rents and profromas with some partnerships stressed by not meeting the DCR requirements.as for SFR its well not a Joke but it is a jokeby the time our government with all the rules and fees. it will cost us almost 100k per lot before we go vertical and not including the price of the dirt.. and affordable in our market would be new construction under 300k  virtually impossible to provide that product under the current regulations .. then you take in the fact of tight labor and sub contractors jacking their prices for the last 5 to 7 years and well at least in our market you have to be north of 400k to have any hope of a profit on a new build SFR.Infill is not a lot better given that lot prices are 100 to 300k per in the markets we work  which is Charleston and Portland.used to be we could get infill lots in Indy for example for 20 to 40k those have doubled or more.. instead of buying rentals a few years back the better play would have been to load up on lots in these areas that are transitioning appreciation has been over 100%  .. 

It seems like it'd be more closely aligned to a security kind of like syndicating a deal, and therefore be subject to SEC regulation.

The hotel industry will continue to evolve and STR regulations will continue to tighten.

You also have the right to ask for HOA documents, such as the rules and regulations, FAQs, etc once you're under contract.

We would then ask for their ITIN as a replacement in order to comply with applicable rules and regulations of the Bank Secrecy Act and USA PATRIOT Act.https://www.irs.gov/individuals/international-taxpayers/taxpayer-identification-numbers-tin#itin