He’ll be investing a chunk of money, and I’m trying to figure out how to best allocate it between the down payment, closing costs, reserves, and CapEx.Specifically:How much should I plan to have in reserves starting out?

If you’re new to short-term rentals, here are some solid resources to get you started:✅ Airbnb & Vrbo Host Resource Centers – Perfect for learning the basics straight from the platforms.✅ YouTube channels like Robuilt and Airbnb Automated – Practical, step-by-step tips from experienced hosts.✅ Books like The Airbnb Expert’s Playbook – A great intro to hosting fundamentals.✅ Online communities (Facebook groups, Reddit’s r/Airbnb) – Learn from real hosts sharing what works and what doesn’t.Focus first on guest experience, pricing strategy, and local regulations—those are the pillars of a successful STR business.I can also share my top 5 beginner mistakes to avoid if you’d like—just let me know! 

Are there any resources and things like contract templates for a hard money loan like this. 

If your cost seg report underestimates or overestimates the amount of purchase price to allocate to + 20 year items.

Since space is limited, should I allocate space for an average washer/dryer, or consider an alternative?

How much would you allocate for maintenance and capex.   

What if the funds you set aside are allocated to some other emergency? 

.✅ The professional approach:✔️ Automate tax categorization within your accounting system✔️ Allocate a fixed percentage of rental income to a dedicated tax account every month✔️ Review and adjust quarterly to stay aligned with actual obligationsThis isn’t optional — it’s a fundamental discipline for healthy financial management.

You need to be financially stable to do these and it's an effective way to add to your investing.I allocate $25,000 per property.

But you can often use the county’s land vs. improvement split as a reasonable method for allocating that purchase price between land (non-depreciable) and building (depreciable).So for example, if the county shows the value breakdown as $100K land and $250K improvements (on a total value of $350K), you can apply that same ratio to your actual purchase price.