This was a proof of concept.

Pacaso, founded by former Zillow executive Austin Allison, is revolutionizing second-home ownership by letting you buy just a fraction (as little as one-eighth) of luxury properties in places like Aspen and Napa.The concept addresses a simple reality: most vacation homes sit empty 80-90% of the year.

I like the concept of keeping things simple.I would buy the property separately without your friend.It might sound fun doing a business with a friend but a business arrangement is almost like a marriage.One issue that I can see is the timing of sale - who gets to decide when to sell the propertyHow much time will each person spend?

Foundation can be simpler like I-beams or need more extensive work like anchors or piers.

Buying and selling these types of properties is also simpler.

That's why I'm so grateful for BiggerPockets, because it makes the process so much simpler.

Quote from @Noah Laker: I'm playing with a similar concept up in Sacramento.

For my first rental, I bought it in my own name, simpler financing, lower costs, and solid insurance covered most risk.

This also leads owners to ASSUME simpler is better when it comes to management contracts.

Because of that, many people simply hold their California rentals in their personal name with strong insurance to avoid the extra costs, since the income and depreciation still pass through to their personal return anyway.Texas is much simpler because there’s no state income tax, which makes short-term rentals easier to manage there.