If you wanted to do "events", you'll need a conditional use permit to stay legal. side note, the 70s to 90s are the worst eras for construction.

A lot of forum members are very knowledgeable in their respective fields related to real estate investing, whether that is real estate sales, wholesaling, flipping, rentals, lending, self-directed IRA and Solo 401k investing, or tax and legal guidance.The site has quite a few tools that can be helpful for new members.

Do not rely on it for legal advice.

The costs associated with setting up the PPM (Private Placement Memo) and getting it legally ready to take to investors would kill most deals of that size.If the smaller commercial multifamilies in that range (6-12) still interests you, you are more than likely looking at a joint venture.

Work percentages of what needs to be paid back or paid to at close.2- Closing costs (assumed 6% fee and whatever legal costs to transfer full ownership of llc)3- Determine date of ownership takeover and remove all payments for already paid for stays so when we split the bank balance we are truly splitting everything earned up to that date and nothing after.4- Payments owed to cleaners/maintenance for work performed5- Airbnb and VRBO membership fees already paidAm I missing something? 

"https://www.nolo.com/legal-encyclopedia/washington-collection-agencies-law.htmlWhat other states require a license for those of us who are NOT collecting on other's behalf?

The most critical language is or should be in there.If your lease says they must pay for legal filings due to late rent, just notify them they have to pay the $45.

If there is any legal action against your current LLC for any of it's past actions the risk you run is that a judgment  or settlement could impact your current investments - negating the liability protection you were using it for in the first case.

If so, is it legal to rent it from him then turn around and sublet it out or no?

Security Deposit in our case is one month's rent: $2,000Upon hearing our breach-of-contract request, the PM stated, "We are holding you responsible for the full term of the lease including and not limited to all rents , collections fees, broker fees , legal fees and any fees associated with the breach of your agreement.