Have a few residential - rental properties - have done fairly well over the yrs with RE investing…now seeking a new venture. Making a purchase with 2 other couples ( friends )
Investing in beach front rental home, with intent to rent most of the time , and for our enjoyment use during the yr.
Each couple = 1/3 - so seeking advice, suggestions. Look to put down 25% on home - approx 350K . Set up LLC . Property Manager, will need documented exit strategy. cash-cushion fund, etc
What suggestions, advice, tidbits can be can you make…as it relates to avoiding headaches, confusion, etc?
Also any sources relating to beach rentals, anticipated expenses…potential income, ROI, etc ( thanks in advance )