Arrived STR 1-SA Semiannual report

United States

Securities And Exchange Commission 

Washington, D.C. 20549

FORM 1-SA

SEMIANNUAL REPORT PURSUANT TO REGULATION A

For the fiscal period ended

June 30, 2024

ARRIVED STR, LLC

(Exact name of issuer as specified in its Certificate of Formation)

Delaware	88-3444701
(State or other jurisdiction of incorporation or organization)	(I.R.S. Employer Identification No.)

1700 Westlake Avenue North, Suite 200

Seattle, WA 98109

(Full mailing address of principal executive offices)

814-277-4833

(Issuer’s telephone number)

Arrived Series Oasis; Arrived Series Orchard; Arrived Series Mirage; Arrived Series Hammock; Arrived Series Pointbreak; Arrived Series Ace; Arrived Series Cardinal; Arrived Series Cactus; Arrived Series Opry; Arrived Series Palm; Arrived Series Sugarcreek; Arrived Series Lakeridge; Arrived Series Serenity; Arrived Series Havasu; Arrived Series Regal; Arrived Series Kinlani; Arrived Series Hickorybear; Arrived Series Lodge; Arrived Series Myrtle; Arrived Series Pasquin; Arrived Series Koi; Arrived Series Coolbaugh; Arrived Series Longbranch; Arrived Series Pickler; Arrived Series Loop; Arrived Series Billingswood; Arrived Series Smokey; Arrived Series Solstice; Arrived Series SuiteSpot

(Title of each class of securities issued pursuant to Regulation A)

TABLE OF CONTENTS

ITEM 1.	MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATION	1
ITEM 2.	OTHER INFORMATION	6
ITEM 3.	FINANCIAL STATEMENTS	F-1
ITEM 4.	EXHIBITS	7

i

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS

The information contained in this Semiannual Report on Form 1-SA (this “Form 1-SA”) includes some statements that are not historical and that are considered “forward-looking statements.” Such forward-looking statements include, but are not limited to, statements regarding our development plans for our business; our strategies and business outlook; anticipated development of our company, the manager, each series of our company and the Arrived platform (defined below); and various other matters (including contingent liabilities and obligations and changes in accounting policies, standards and interpretations). These forward-looking statements express the manager’s expectations, hopes, beliefs, and intentions regarding the future. In addition, without limiting the foregoing, any statements that refer to projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements.  The words “anticipates,” “believes,” “continue,” “could,” “estimates,” “expects,” “intends,” “may,” “might,” “plans,” “possible,” “potential,” “predicts,” “projects,” “seeks,” “should,” “will,” “would” and similar expressions and variations, or comparable terminology, or the negatives of any of the foregoing, may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking.

The forward-looking statements contained in this Form 1-SA are based on current expectations and beliefs concerning future developments that are difficult to predict. Neither our company nor the manager can guarantee future performance, or that future developments affecting our company, the manager or the Arrived platform will be as currently anticipated. These forward-looking statements involve a number of risks, uncertainties (some of which are beyond our control) or other assumptions that may cause actual results or performance to be materially different from those expressed or implied by these forward-looking statements.

All forward-looking statements attributable to us are expressly qualified in their entirety by these risks and uncertainties. These risks and uncertainties, along with others, are detailed under the headings “Summary – Summary Risk Factors” and “Risk Factors” in Post-Qualification Amendment No. 15 to our Offering Statement on Form 1-A filed by the company with the Securities and Exchange Commission (the “Commission”), as may be amended, and in our subsequent reports and offering statements filed from time to time with the Commission. Should one or more of these risks or uncertainties materialize, or should any of the parties’ assumptions prove incorrect, actual results may vary in material respects from those projected in these forward-looking statements. You should not place undue reliance on any forward-looking statements and should not make an investment decision based solely on these forward-looking statements. We undertake no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws.

ii

ITEM 1. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATION

Overview

Arrived STR, LLC, a Delaware series limited liability company, was formed in July 2022 to permit public investment in individual residential properties. We believe people should have access to the wealth creation that real estate investment can provide. We believe in passive income, conservative debt, diversification, and aligned incentives.

Arrived is a marketplace for investing in real estate. We buy residential properties, divide them into multiple interests, and offer them as investments on a per interest basis through our web-based platform. Investors can manage their risk by spreading their investments across a portfolio of homes and they can invest in real estate without needing to apply for mortgages or take on personal debt.

Arrived does all of the work of sourcing, analyzing, maintaining, and managing all of the homes that we acquire. We analyze every home investment across several financial, market, and demographic characteristics to support our acquisition decision-making. Every investment we make is an investment in the communities in which Arrived operates, alongside other like-minded individuals. As our community network grows, so does our access to investment and housing opportunities.

Arrived arranges for a property manager to operate the properties as short-term rentals for guests who can also invest through the same process as any other member of the Arrived Platform, becoming part owners of the homes they’re staying in at that time. By investing together, we align incentives towards creating value for everyone.

Since its formation in July 2022, our company has been engaged primarily in acquiring properties for its series offerings, developing the financial, offering and other materials to facilitate fundraising, and taking the steps necessary to effectuate the series offerings and management of the associated series properties. As of June 30, 2024, our company has acquired 29 properties.

Emerging Growth Company

While we currently have no intention of making such an election, we may elect to become a public reporting company under the Securities Exchange Act of 1934, as amended (the “Exchange Act”). If we elect to do so, we will be required to publicly report on an ongoing basis as an emerging growth company, as defined in the JOBS Act, under the reporting rules set forth under the Exchange Act. For so long as we remain an emerging growth company, we may take advantage of certain exemptions from various reporting requirements that are applicable to other Exchange Act reporting companies that are not emerging growth companies, including, but not limited to:

● not being required to comply with the auditor attestation requirements of Section 404 of the Sarbanes-Oxley Act;

● being permitted to comply with reduced disclosure obligations regarding executive compensation in our periodic reports and proxy statements; and

● being exempt from the requirement to hold a non-binding advisory vote on executive compensation and stockholder approval of any golden parachute payments not previously approved.

In addition, Section 107 of the JOBS Act also provides that an emerging growth company can take advantage of the extended transition period provided in Section 7(a)(2)(B) of the Securities Act of 1933, as amended, for complying with new or revised accounting standards. In other words, an emerging growth company can delay the adoption of certain accounting standards until those standards would otherwise apply to private companies. We would expect to take advantage of the benefits of this extended transition period. Our financial statements may therefore not be comparable to those of companies that comply with such new or revised accounting standards.

1

We would expect to take advantage of these reporting exemptions until we are no longer an emerging growth company. We would remain an emerging growth company for up to five years, or until the earliest of (i) the last day of the first fiscal year in which our total annual gross revenues exceed $1.07 billion; (ii) the date that we become a large accelerated filer as defined in Rule 12b-2 under the Exchange Act, which would occur if the market value of our common shares that is held by non-affiliates exceeds $700 million as of the last business day of our most recently completed second fiscal quarter; or (iii) the date on which we have issued more than $1 billion in non-convertible debt during the preceding three-year period.

Distributions

The manager has sole discretion in determining what distributions of Free Cash Flow, if any, are made to interest holders except as otherwise limited by law or the operating agreement. Our company expects the manager to make distributions of any free cash flow on a monthly or other periodic basis as determined by the manager. However, the manager may change the timing of distributions in its sole discretion. Investors will be required to update their personal information on a regular basis to make sure they receive all allocated distributions. 

Critical Accounting Policies

Our accounting policies will conform with GAAP. The preparation of financial statements in conformity with GAAP will require us to use judgment in the application of accounting policies, including making estimates and assumptions. These judgments may affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the dates of the financial statements and the reported amounts of revenue and expenses during the reporting periods. We intend to make these estimates and assumptions in an appropriate manner and in a way that accurately reflects our financial condition. We will continually test and evaluate our estimates and assumptions using our historical knowledge of the business, as well as other factors, to ensure that they are reasonable for reporting purposes. However, actual results may differ from our estimates and assumptions.

We believe our critical accounting policies govern the significant judgments and estimates used in the preparation of our financial statements. Please refer to Note 2, Summary of Significant Accounting Policies, included in the financial statements, for a more thorough discussion of our accounting policies and procedures.

Operating Results

Revenues

Revenues are generated at the series level and are derived from leases on the series property. All revenues generated during the six months ended June 30, 2024 and 2023 are listed in the table below:

Rental Income
Series Name	June 30, 2024		June 30, 2023
Ace	$	68,791		60,976
Billingswood		10,829		-
Cactus		71,620		62,733
Cardinal		86,311		97,879
Coolbaugh		24,480		747
Hammock		27,342		44,693
Havasu		19,560		25,746
Hickorybear		23,118		2,092
Kinlani		43,471		9,301
Koi		67,136		-
Lakeridge		19,098		8,729
Lodge		50,902		9,722
Longbranch		34,006		3,607
Loop		18,625		1,596
Mirage		28,295		26,155
Myrtle		30,431		4,069
Oasis		31,440		44,979
Opry		21,067		27,887
Orchard		13,375		9,160
Palm		41,151		31,471
Pasquin		20,991		448
Pickler		86,389		9,747
Pointbreak		37,494		21,535
Regal		25,500		18,171
Serenity		51,541		59,103
Smokey		21,679		-
Solstice		18,382		-
Sugarcreek		9,555		324
SuiteSpot		79,910		-
	$	1,082,489		580,870.00

2

Operating Expenses

The operating expenses incurred prior to the closing of an offering related to any of the series are being paid by our manager and are reimbursed by such series out of the gross offering proceeds upon closing of the relevant series offering. Such operating expenses include real estate taxes, property insurance, Home Ownership Association (HOA) fees, repair and maintenance costs, and FF&E not capitalized. Upon closing, each series becomes responsible to fund its own operating expenses.

During the six months ended June 30, 2024 and 2023, at the close of the respective offerings for the series, each individual series became responsible for its own operating expenses. The following table summarizes the total operating expenses by series as of June 30, 2024 and 2023:

	Operating Expenses
	June 30, 2024						June 30, 2023
Series Name	Operating Expenses		Depreciation		Total Expenses		Operating Expenses		Depreciation		Total Expenses
Ace	$	32,663	$	20,258	$	52,921	$	33,707	$	25,753	$	59,460
Billingswood		39,118		28,880		67,998		35,417		1,759		37,176
Cactus		34,264		20,761		55,025		35,440		18,601		54,041
Cardinal		36,550		21,281		57,831		45,988		10,158		56,146
Coolbaugh		23,950		18,536		42,487		51,783		1,921		53,704
Hammock		43,183		12,511		55,694		27,868		12,516		40,384
Havasu		19,049		21,467		40,516		31,657		19,060		50,717
Hickorybear		31,379		17,497		48,877		86,223		4,936		91,159
Kinlani		23,052		17,151		40,203		46,868		7,199		54,067
Koi		32,984		30,739		63,723		23,290		8,633		31,923
Lakeridge		24,205		13,630		37,835		13,217		9,348		22,565
Lodge		45,303		25,294		70,597		62,564		20,916		83,480
Longbranch		25,601		21,285		46,885		68,687		4,050		72,737
Loop		30,562		20,241		50,803		34,425		1,489		35,914
Mirage		27,027		10,154		37,181		43,725		8,371		52,096
Myrtle		28,266		13,475		41,741		81,894		4,618		86,512
Oasis		32,997		20,514		53,511		23,467		20,514		43,981
Opry		23,285		15,772		39,057		93,289		10,274		103,563
Orchard		24,307		16,690		40,997		9,555		15,606		25,161
Palm		51,110		16,322		67,433		75,033		13,855		88,888
Pasquin		32,368		17,944		50,312		76,661		3,122		79,783
Pickler		42,791		29,528		72,319		7,305		2,460		9,765
Pointbreak		32,329		11,008		43,337		24,760		10,033		34,793
Regal		55,203		18,272		73,475		30,412		10,883		41,295
Serenity		30,492		26,493		56,985		51,684		20,804		72,488
Smokey		38,772		17,498		56,270		45,258		1,670		46,928
Solstice		18,455		18,979		37,434		-		-		-
Sugarcreek		21,880		11,608		33,488		18,927		7,991		26,918
SuiteSpot		47,913		21,616		69,530		5,973		-		5,973
	$	949,060	$	555,404	$	1,504,464	$	1,185,077	$	276,540	$	1,461,617

3

Other Income (Expenses)

Other Income (Expenses) for the six months ended June 30, 2024 and 2023, consisted of interest expenses, loan expenses and other income. The following table summarizes the total of such expenses incurred by each series during the six months ended June 30, 2024 and 2023.

OTHER EXPENSES
Series Name	June 30, 2024		June 30, 2023
Ace	$	14,768	$	12,333
Billingswood		-		-
Cactus		18,119		16,238
Cardinal		10,468		8,742
Coolbaugh		-		-
Hammock		8,000		9,475
Havasu		17,580		15,435
Hickorybear		-		7,880
Kinlani		-		23,941
Koi		-		-
Lakeridge		10,511		9,228
Lodge		-		-
Longbranch		-		-
Loop		-		-
Mirage		-		-
Myrtle		-		-
Oasis		16,761		16,149
Opry		19,009		16,251
Orchard		-		-
Palm		11,628		10,132
Pasquin		-		335
Pickler		-		-
Pointbreak		5,290		7,029
Regal		20,556		17,699
Serenity		18,334		16,302
Smokey		-		-
Solstice		-		-
Sugarcreek		7,814		6,860
SuiteSpot		-		1,828
	$	178,838	$	195,857

4

Liquidity and Capital Resources

From inception, our manager has financed the business activities of each series. Upon the first closing of a particular series offering, the manager is reimbursed out of the proceeds of the relevant offering. Until such time as the series have the capacity to generate cash flows from operations, our manager may cover any deficits through capital contributions, which may be reimbursed upon closing of the relevant offering.

Cash and Cash Equivalent Balances

Cash is held at the series level. The following table summarizes the cash and cash equivalents held by series as of June 30, 2024 and 2023:

Cash & Cash Equivalents
Series Name	June 30, 2024		June 30, 2023
Ace	$	35,219	$	90,449
Billingswood		22,597		23,901
Cactus		20,267		81,228
Cardinal		9,057		51,963
Coolbaugh		3,487		51,812
Hammock		13,481		29,435
Havasu		23,640		141,936
Hickorybear		20,412		43,567
Kinlani		35,930		106,680
Koi		32,842		132,046
Lakeridge		3,373		49,928
Lodge		41,500		90,622
Longbranch		26,009		63,937
Loop		12,348		79,736
Mirage		18,077		76,829
Myrtle		31,480		36,101
Oasis		9,413		31,016
Opry		47,911		133,931
Orchard		8,255		46,232
Palm		12,881		11,629
Pasquin		6,197		56,583
Pickler		108,094		166,978
Pointbreak		80,962		115,455
Regal		60,588		135,269
Serenity		102,344		213,267
Smokey		21,771		46,011
Solstice		79,101		-
Sugarcreek		-		39,587
SuiteSpot		29,150		23,875
	$	916,387	$	2,170,004

5

Plan of Operations

We intend to hold and manage the series properties for five to fifteen years during which time we will operate the series properties as short-term rental income properties. During this period, we intend to distribute any Free Cash Flow to investors.

As each of our properties reaches what we believe to be its optimum value, we will consider disposing of the property. The determination of when a particular property should be sold or otherwise disposed of will be made after consideration of relevant factors, including prevailing and projected economic conditions, whether the value of the property is anticipated to appreciate or decline substantially, local regulatory changes, environmental and other factors that may reduce the desirability of short-term rentals in a particular market, and how operating history may impact the potential sales price. The manager may determine that it is in the best interests of members to sell a property earlier than five years or to hold a property for more than fifteen years.

We plan to launch a number of additional series and related offerings in the next twelve months.  As of the current date, we do not know how many series we will be offering. However, in any case, the aggregate dollar amount of all of the series interests that we will sell within the 12-month period will not exceed the maximum amount allowed under Regulation A. It is anticipated that the proceeds from any offerings closed during the next twelve months will be used to acquire additional properties.

Trend Information

Our results of operations are affected by a variety of factors, including conditions in the financial markets and the economic and political environments, particularly in the United States. Global economic conditions, including political environments, financial market performance, interest rates, credit spreads or other conditions beyond our control are unpredictable and could negatively affect the value of the series properties, our ability to acquire and manage single family rentals and the success of our current and future offerings. In addition to the aforementioned macroeconomic trends, we believe the following factors will influence our future performance:

- Recent increases in interest rates may have a negative effect on the demand for our offerings due to the attractiveness of alternative investments.

- The continuing increase in prices in the United States housing market may result in difficulties in sourcing properties and meeting demand for our offerings.

- Continued increases in remote work arrangements may lead to greater rental activity in our target markets.

ITEM 2. OTHER INFORMATION

None.

6

ITEM 3. FINANCIAL STATEMENTS

ARRIVED STR, LLC AND ITS SERIES

UNAUDITED CONSOLIDATED AND CONSOLIDATING FINANCIAL STATEMENTS

AS OF AND FOR THE SIX MONTHS ENDED JUNE 30, 2024 AND 2023

CONSOLIDATED AND CONSOLIDATING BALANCE SHEET AS OF JUNE 30, 2024 (UNAUDITED)	F-2
CONSOLIDATED AND CONSOLIDATING BALANCE SHEET AS OF DECEMBER 31, 2023 (AUDITED)	F-7
CONSOLIDATED AND CONSOLIDATING STATEMENTS OF COMPREHENSIVE INCOME (LOSS) FOR THE SIX MONTHS ENDED JUNE 30, 2024 (UNAUDITED)	F-12
CONSOLIDATED AND CONSOLIDATING STATEMENTS OF COMPREHENSIVE INCOME (LOSS) FOR THE SIX MONTHS ENDED JUNE 30, 2023 (UNAUDITED)	F-17
CONSOLIDATED AND CONSOLIDATING STATEMENTS OF CHANGES IN MEMBERS’ EQUITY (DEFICIT) FOR THE SIX MONTHS ENDED JUNE 30, 2024 (UNAUDITED)	F-22
CONSOLIDATED AND CONSOLIDATING STATEMENTS OF CHANGES IN MEMBERS’ EQUITY (DEFICIT) FOR THE SIX MONTHS ENDED JUNE 30, 2023 (UNAUDITED)	F-26
CONSOLIDATED STATEMENTS OF CASH FLOWS FOR THE SIX MONTHS ENDED JUNE 30, 2024 (UNAUDITED)	F-32
CONSOLIDATED STATEMENTS OF CASH FLOWS THE SIX MONTHS ENDED JUNE 30, 2023 (UNAUDITED)	F-40
NOTES TO CONSOLIDATED AND CONSOLIDATING FINANCIAL STATEMENTS	F-42

F-1

ARRIVED STR, LLC AND ITS SERIES

UNAUDITED CONSOLIDATED AND CONSOLIDATING BALANCE SHEET

AS OF JUNE 30, 2024

	Ace			Billingswood			Cactus			Cardinal			Coolbaugh			Hammock
ASSETS
Current assets:
Cash	$	35,219		$	22,597		$	20,267		$	9,057		$	3,487		$	13,481
Other receivables		-			-			-			-			-			-
Prepaid expenses		5,877			5,157			-			4,321			-			-
Due from related parties, property manager		-			-			-			-			-			-
Due from (to) third party property manager		2,860			-			3,581			5,102			3,905			1,979
Total current assets		43,956			27,754			23,848			18,479			7,392			15,460
Property and equipment, net		1,052,136			902,020			1,047,802			789,554			510,992			552,564
Total assets	$	1,096,092		$	929,775		$	1,071,650		$	808,033		$	518,384		$	568,024
LIABILITIES AND MEMBERS’ EQUITY (DEFICIT)
Current liabilities:
Accrued expenses	$	9,862			-		$	18,072		$	7,866		$	5,978		$	20,990
Accounts payable		100			300			3,631			650			300			100
Due to third party property manager		-			4,119			-			-			-			-
Due to (from) related parties, property manager		-			-			-			-			40			40
Due to (from) related parties		51,438			55,147			8,995			13,332			2,717			6,999
Total Current liabilities		61,400			59,565			30,699			21,848			9,034			28,129
Mortgage payable, net		431,988			-			433,214			305,889			-			222,998
Total Liabilities		493,388			59,565			463,913			327,737			9,034			251,127
Members’ equity (deficit)
Members’ capital		700,253			1,081,526			704,300			510,457			626,326			552,574
Accumulated deficit		(97,549	)		(211,317	)		(96,563	)		(30,161	)		(116,976	)		(235,677	)
Total members’ equity (deficit)		602,704			870,209			607,737			480,296			509,350			316,897
Total liabilities and members’ equity (deficit)	$	1,096,092		$	929,775		$	1,071,650		$	808,033		$	518,384		$	568,024

See the accompanying notes to these consolidated and consolidating financial statements.

F-2

ARRIVED STR, LLC AND ITS SERIES

UNAUDITED CONSOLIDATED AND CONSOLIDATING BALANCE SHEET

AS OF JUNE 30, 2024

	Havasu			Hickorybear			Kinlani			Koi			Lakeridge			Lodge
ASSETS
Current assets:
Cash	$	23,640		$	20,412		$	35,930		$	32,842		$	3,373		$	41,500
Other receivables		-			-			-			-			-			-
Prepaid expenses		-			-			-			-			-			-
Due from related parties, property manager		-			-			-			-			-			-
Due from (to) third party property manager		-			1,632			4,647			3,202			4,664			7,788
Total current assets		23,640			22,044			40,577			36,044			8,037			49,288
Property and equipment, net		1,060,811			759,589			778,540			847,013			590,446			1,091,230
Total assets	$	1,084,451		$	781,633		$	819,117		$	883,057		$	598,483		$	1,140,518
LIABILITIES AND MEMBERS’ EQUITY (DEFICIT)
Current liabilities:
Accrued expenses	$	12,177		$	13,364		$	14,068		$	9,325		$	10,215		$	13,652
Accounts payable		2,343			400			300			-			-			400
Due to third party property manager		363			-			-			-			-			-
Due to (from) related parties, property manager		-			-			-			-			-			-
Due to (from) related parties		5,761			44,666			5,307			47,684			9,093			52,500
Total Current liabilities		20,643			58,430			19,674			57,009			19,308			66,552
Mortgage payable, net		464,429			-			-			-			277,674			-
Total Liabilities		485,072			58,430			19,674			57,009			296,983			66,552
Members’ equity (deficit)
Members’ capital		759,095			857,864			840,277			911,038			411,840			1,224,415
Accumulated deficit		(159,715	)		(134,661	)		(40,834	)		(84,990	)		(110,340	)		(150,449	)
Total members’ equity (deficit)		599,379			723,203			799,443			826,048			301,501			1,073,966
Total liabilities and members’ equity (deficit)	$	1,084,451		$	781,633		$	819,117		$	883,057		$	598,483		$	1,140,518

See the accompanying notes to these consolidated and consolidating financial statements.

F-3

ARRIVED STR, LLC AND ITS SERIES

UNAUDITED CONSOLIDATED AND CONSOLIDATING BALANCE SHEET

AS OF JUNE 30, 2024

	Longbranch			Loop			Mirage			Myrtle			Oasis			Opry
ASSETS
Current assets:
Cash	$	26,009		$	12,348		$	18,077		$	31,480		$	9,413		$	47,911
Other receivables		4,544			-			-			-			-			-
Prepaid expenses		585			-			512			-			4,601			-
Due from related parties, property manager		-			-			-			-			-			-
Due from (to) third party property manager		5,419			-			-			-			6,786			4,264
Total current assets		36,558			12,348			18,589			31,480			20,800			52,175
Property and equipment, net		864,692			718,173			615,475			457,808			980,798			1,068,999
Total assets	$	901,250		$	730,521		$	634,064		$	489,288		$	1,001,598		$	1,121,174
LIABILITIES AND MEMBERS’ EQUITY (DEFICIT)
Current liabilities:
Accrued expenses	$	14,600		$	9,831		$	8,834		$	8,630		$	4,331		$	29,440
Accounts payable		300			400			450			-			-			3,251
Due to third party property manager		-			-			1,545			-			-			-
Due to (from) related parties, property manager		-			10,970			-			1,202			-			-
Due to (from) related parties		4,816			24,851			94,981			3,373			42,931			4,438
Total Current liabilities		19,716			46,052			105,811			13,205			47,261			37,129
Mortgage payable, net		-			-			-			-			477,613			453,723
Total Liabilities		19,716			46,052			105,811			13,205			524,874			490,851
Members’ equity (deficit)
Members’ capital		963,629			793,665			726,288			577,444			582,634			766,287
Accumulated deficit		(82,095	)		(109,196	)		(198,035	)		(101,361	)		(105,910	)		(135,964	)
Total members’ equity (deficit)		881,534			684,469			528,253			476,083			476,724			630,323
Total liabilities and members’ equity (deficit)	$	901,250		$	730,521		$	634,064		$	489,288		$	1,001,598		$	1,121,174

See the accompanying notes to these consolidated and consolidating financial statements.

F-4

ARRIVED STR, LLC AND ITS SERIES

UNAUDITED CONSOLIDATED AND CONSOLIDATING BALANCE SHEET

AS OF JUNE 30, 2024

	Orchard			Palm			Pasquin			Pickler			Pointbreak			Regal
ASSETS
Current assets:
Cash	$	8,255		$	12,881		$	6,197		$	108,094		$	80,962		$	60,588
Other receivables		-			-			-			-			-			-
Prepaid expenses		-			-			-			-			1,755			-
Due from related parties, property manager		-			-			-			-			1,761			-
Due from (to) third party property manager		245			688			2,443			4,446			-			-
Total current assets		8,500			13,569			8,640			112,540			84,479			60,588
Property and equipment, net		589,004			658,787			536,133			1,171,141			414,250			968,266
Total assets	$	597,504		$	672,356		$	544,773		$	1,283,680		$	498,729		$	1,028,855
LIABILITIES AND MEMBERS’ EQUITY (DEFICIT)
Current liabilities:
Accrued expenses	$	7,796		$	17,632		$	5,638		$	18,102		$	6,598		$	14,524
Accounts payable		1,050			2,000			100			300			500			3,067
Due to third party property manager		-			-			-			-			-			1,000
Due to (from) related parties, property manager		-			40			40			-			-			4,769
Due to (from) related parties		2,700			16,362			31,903			7,103			128,260			8,127
Total Current liabilities		11,546			36,034			37,680			25,505			135,358			31,487
Mortgage payable, net		-			307,162			-			-			153,380			466,688
Total Liabilities		11,546			343,196			37,680			25,505			288,739			498,175
Members’ equity (deficit)
Members’ capital		717,449			541,455			641,607			1,287,272			389,379			654,981
Accumulated deficit		(131,491	)		(212,294	)		(134,514	)		(29,097	)		(179,389	)		(124,301	)
Total members’ equity (deficit)		585,958			329,161			507,092			1,258,175			209,990			530,680
Total liabilities and members’ equity (deficit)	$	597,504		$	672,356		$	544,773		$	1,283,680		$	498,729		$	1,028,855

See the accompanying notes to these consolidated and consolidating financial statements.

F-5

ARRIVED STR, LLC AND ITS SERIES

UNAUDITED CONSOLIDATED AND CONSOLIDATING BALANCE SHEET

AS OF JUNE 30, 2024

	Serenity			Smokey			Solstice			Sugarcreek			SuiteSpot			Consolidated
ASSETS
Current assets:
Cash	$	102,344		$	21,771		$	79,101		$	-		$	29,150		$	916,387
Other receivables		-			-			-			-			-			4,544
Prepaid expenses		-			-			4,979			-			1,013			28,799
Due from related parties, property manager		-			-			-			-			-			1,761
Due from (to) third party property manager		-			-			4,750			-			-			68,403
Total current assets		102,344			21,771			88,829			-			30,163			1,019,894
Property and equipment, net		1,117,589			771,709			786,059			450,548			955,564			23,107,692
Total assets	$	1,219,933		$	793,481		$	874,889		$	450,548		$	985,727		$	24,127,586
LIABILITIES AND MEMBERS’ EQUITY (DEFICIT)
Current liabilities:
Accrued expenses	$	19,455		$	10,697		$	12,489		$	5,853		$	19,868		$	349,890
Accounts payable		2,943			1,000			-			1,141			100			25,125
Due to third party property manager		437			315			-			2,572			-			10,350
Due to (from) related parties, property manager		-			10,950			-			551			248			28,849
Due to (from) related parties		8,783			2,968			3,833			37,955			17,968			744,989
Total Current liabilities		31,619			25,931			16,322			48,072			38,184			1,159,204
Mortgage payable, net		484,537			-			-			206,413			-			4,685,707
Total Liabilities		516,156			25,931			16,322			254,485			38,184			5,844,911
Members’ equity (deficit)
Members’ capital		809,005			867,023			906,057			310,418			1,089,489			21,804,048
Accumulated deficit		(105,228	)		(99,474	)		(47,490	)		(114,355	)		(141,946	)		(3,521,373	)
Total members’ equity (deficit)		703,777			767,550			858,567			196,063			947,543			18,282,675
Total liabilities and members’ equity (deficit)	$	1,219,933		$	793,481		$	874,889		$	450,548		$	985,727		$	24,127,586

See the accompanying notes to these consolidated and consolidating financial statements.

F-6

ARRIVED STR, LLC AND ITS SERIES

AUDITED CONSOLIDATED AND CONSOLIDATING BALANCE SHEET

AS OF DECEMBER 31, 2023

	Ace			Billingswood			Cactus			Cardinal			Coolbaugh			Hammock
ASSETS
Current assets:
Cash	$	12,762		$	5,522		$	35,462		$	26,945		$	10,324		$	1,561
Other receivables		-			-			-			-			-			-
Subscription receivables		-			-			-			-			-			-
Prepaid expenses		3,244			719			884			2,379			429			4,907
Due from (to) third party property manager		5,025			(8,285	)		5,443			3,254			(370	)		979
Total current assets		21,030			(2,044	)		41,790			32,578			10,383			7,446
Property and equipment, net		1,072,395			930,900			1,068,563			810,835			529,528			565,075
Total assets	$	1,093,425		$	928,855		$	1,110,353		$	843,413		$	539,911		$	572,521
LIABILITIES AND MEMBERS’ EQUITY (DEFICIT)
Current liabilities:
Accrued expenses	$	13,482		$	10,098		$	15,539		$	10,497		$	15,694		$	9,498
Accounts payable		-			-			-			-			-			-
Due to (from) related parties, property manager		-			-			-			-			(732	)		(558	)
Due to (from) related parties		23,410			104			29,172			47,132			(6,325	)		3,689
Total Current liabilities		36,892			10,202			44,711			57,629			8,637			12,629
Mortgage payable, net		431,829			-			432,113			305,772			-			222,510
Total Liabilities		468,721			10,202			476,824			363,401			8,637			235,139
Members’ equity (deficit)
Members’ capital		723,356			1,072,802			728,567			528,186			630,244			536,706
Accumulated deficit		(98,652	)		(154,148	)		(95,038	)		(48,173	)		(98,970	)		(199,324	)
Total members’ equity (deficit)		624,704			918,654			633,528			480,013			531,274			337,382
Total liabilities and members’ equity (deficit)	$	1,093,425		$	928,855		$	1,110,353		$	843,413		$	539,911		$	572,521

See the accompanying notes to these consolidated and consolidating financial statements. 

F-7

ARRIVED STR, LLC AND ITS SERIES

AUDITED CONSOLIDATED AND CONSOLIDATING BALANCE SHEET

AS OF DECEMBER 31, 2023

	Havasu			Hickorybear			Kinlani			Koi			Lakeridge			Lodge
ASSETS
Current assets:
Cash	$	15,342		$	28,072		$	59,888		$	-		$	20,120		$	43,291
Other receivables		-			-			-			-			-			-
Subscription receivables		-			-			-			-			-			-
Prepaid expenses		910			1,119			660			627			433			1,900
Due from (to) third party property manager		(853	)		2,790			9,074			3,552			1,855			6,984
Total current assets		15,399			31,982			69,622			4,178			22,408			52,175
Property and equipment, net		1,076,178			777,086			795,691			870,622			604,076			1,116,523
Total assets	$	1,091,577		$	809,068		$	865,313		$	874,800		$	626,484		$	1,168,698
LIABILITIES AND MEMBERS’ EQUITY (DEFICIT)
Current liabilities:
Accrued expenses	$	11,427		$	16,947		$	14,881		$	9,238		$	5,062		$	23,590
Accounts payable		-			-			-			-			-			-
Due to (from) related parties, property manager		-			-			-			-			-			-
Due to (from) related parties		(33,323	)		21,505			30,335			32,452			8,704			19,371
Total Current liabilities		(21,896	)		38,452			45,217			41,690			13,766			42,962
Mortgage payable, net		463,247			-			-			-			276,968			-
Total Liabilities		441,352			38,452			45,217			41,690			290,734			42,962
Members’ equity (deficit)
Members’ capital		771,404			879,519			864,199			921,513			416,841			1,256,491
Accumulated deficit		(121,179	)		(108,903	)		(44,102	)		(88,403	)		(81,091	)		(130,754	)
Total members’ equity (deficit)		650,225			770,616			820,096			833,110			335,750			1,125,737
Total liabilities and members’ equity (deficit)	$	1,091,577		$	809,068		$	865,313		$	874,800		$	626,484		$	1,168,698

See the accompanying notes to these consolidated and consolidating financial statements.

F-8

ARRIVED STR, LLC AND ITS SERIES

AUDITED CONSOLIDATED AND CONSOLIDATING BALANCE SHEET

AS OF DECEMBER 31, 2023

	Longbranch			Loop			Mirage			Myrtle			Oasis			Opry
ASSETS
Current assets:
Cash	$	53,534		$	9,253		$	18,754		$	25,351		$	6,434		$	79,528
Other receivables		4,544			-			-			13,544			-			-
Subscription receivables		-			-			-			-			-			-
Prepaid expenses		2,393			572			1,069			1,199			2,215			(1,160	)
Due from (to) third party property manager		7,618			-			2,540			-			2,975			2,059
Total current assets		68,089			9,825			22,363			40,094			11,624			80,427
Property and equipment, net		885,977			738,413			625,628			471,283			1,001,312			1,084,771
Total assets	$	954,066		$	748,239		$	647,991		$	511,377		$	1,012,936		$	1,165,198
LIABILITIES AND MEMBERS’ EQUITY (DEFICIT)
Current liabilities:
Accrued expenses	$	16,090		$	8,989		$	10,645		$	13,710		$	9,933		$	27,267
Accounts payable		-			-			-			-			-			-
Due to (from) related parties, property manager		-			(642	)		-			292			-			-
Due to (from) related parties		19,410			10,288			89,667			705			(3,739	)		1,723
Total Current liabilities		35,500			18,636			100,313			14,707			6,194			28,990
Mortgage payable, net		-			-			-			-			477,000			452,568
Total Liabilities		35,500			18,636			100,313			14,707			483,194			481,557
Members’ equity (deficit)
Members’ capital		987,781			806,621			736,827			586,720			596,820			782,606
Accumulated deficit		(69,216	)		(77,018	)		(189,149	)		(90,050	)		(67,078	)		(98,965	)
Total members’ equity (deficit)		918,565			729,603			547,678			496,670			529,741			683,641
Total liabilities and members’ equity (deficit)	$	954,066		$	748,239		$	647,991		$	511,377		$	1,012,936		$	1,165,198

See the accompanying notes to these consolidated and consolidating financial statements. 

F-9

ARRIVED STR, LLC AND ITS SERIES

AUDITED CONSOLIDATED AND CONSOLIDATING BALANCE SHEET

AS OF DECEMBER 31, 2023

	Orchard			Palm			Pasquin			Pickler			Pointbreak			Regal
ASSETS
Current assets:
Cash	$	26,625		$	5,917		$	18,902		$	81,534		$	88,877		$	55,625
Other receivables		-			-			-			-			-			-
Subscription receivables		-			-			-			-			-			-
Prepaid expenses		495			578			(127	)		951			-			831
Due from (to) third party property manager		3,704			5,206			3,958			8,492			-			8,916
Total current assets		30,824			11,701			22,733			90,978			88,877			65,372
Property and equipment, net		605,694			675,110			554,076			1,200,669			416,116			976,538
Total assets	$	636,517		$	686,810		$	576,810		$	1,291,646		$	504,992		$	1,041,910
LIABILITIES AND MEMBERS’ EQUITY (DEFICIT)
Current liabilities:
Accrued expenses	$	6,038		$	5,057		$	13,556		$	19,106		$	4,127		$	11,460
Accounts payable		-			-			-			-			25			-
Due to (from) related parties, property manager		-			(1,290	)		-			-			1,840			-
Due to (from) related parties		7,394			2,683			16,645			(1,534	)		119,508			(48,561	)
Total Current liabilities		13,432			6,451			30,201			17,572			125,500			(37,101	)
Mortgage payable, net		-			306,381			-			-			153,307			465,500
Total Liabilities		13,432			312,831			30,201			17,572			278,807			428,399
Members’ equity (deficit)
Members’ capital		726,954			548,364			651,803			1,317,242			394,441			669,282
Accumulated deficit		(103,869	)		(174,385	)		(105,194	)		(43,168	)		(168,256	)		(55,770	)
Total members’ equity (deficit)		623,085			373,979			546,609			1,274,074			226,185			613,512
Total liabilities and members’ equity (deficit)	$	636,517		$	686,810		$	576,810		$	1,291,646		$	504,992		$	1,041,910

See the accompanying notes to these consolidated and consolidating financial statements. 

F-10

ARRIVED STR, LLC AND ITS SERIES

AUDITED CONSOLIDATED AND CONSOLIDATING BALANCE SHEET

AS OF DECEMBER 31, 2023

	Serenity			Smokey			Solstice			Sugarcreek			SuiteSpot			Consolidated
ASSETS
Current assets:
Cash	$	78,386		$	33,755		$	126,133		$	5,117		$	26,062		$	999,076
Other receivables		-			-			-			-			-			18,089
Subscription receivables		-			-			-			-			265,063			265,063
Prepaid expenses		919			643			4,979			387			1,013			35,164
Due from (to) third party property manager		9,874			(315	)		(421	)		1,199			-			85,254
Total current assets		89,179			34,082			130,691			6,703			292,137			1,402,645
Property and equipment, net		1,144,082			789,208			798,531			462,156			968,831			23,615,866
Total assets	$	1,233,261		$	823,290		$	929,222		$	468,859		$	1,260,968		$	25,018,511
LIABILITIES AND MEMBERS’ EQUITY (DEFICIT)
Current liabilities:
Accrued expenses	$	19,982		$	9,168		$	18,613		$	3,742		$	20,152		$	373,587
Accounts payable		-			-			-			-			-			25
Due to (from) related parties, property manager		-			(1,451	)		-			551			17,791			15,802
Due to (from) related parties		(25,901	)		(434	)		13,033			26,992			252,459			656,567
Total Current liabilities		(5,919	)		7,284			31,646			31,285			290,402			1,045,981
Mortgage payable, net		483,305			-			-			205,888			-			4,676,389
Total Liabilities		477,386			7,284			31,646			237,172			290,402			5,722,370
Members’ equity (deficit)
Members’ capital		837,324			880,889			926,014			314,294			1,122,891			22,216,701
Accumulated deficit		(81,450	)		(64,882	)		(28,438	)		(82,608	)		(152,326	)		(2,920,560	)
Total members’ equity (deficit)		755,875			816,006			897,576			231,687			970,565			19,296,141
Total liabilities and members’ equity (deficit)	$	1,233,261		$	823,290		$	929,222		$	468,859		$	1,260,968		$	25,018,511

See the accompanying notes to these consolidated and consolidating financial statements. 

F-11

ARRIVED STR, LLC AND ITS SERIES

UNAUDITED CONSOLIDATED AND CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME (LOSS)

FOR THE SIX MONTHS ENDED JUNE 30, 2024

	Ace		Billingswood			Cactus			Cardinal		Coolbaugh			Hammock
Rental income	$	68,791	$	10,829		$	71,620		$	86,311	$	24,480		$	27,342
Operating expenses:
Depreciation		20,258		28,880			20,761			21,281		18,536			12,511
Insurance		1,468		1,505			1,450			1,889		1,804			12,445
Management fees		10,305		2,166			10,229			12,437		10,309			10,096
Management fees, related party		3,440		541			3,581			4,316		1,224			1,367
Repairs & maintenance		4,688		3,670			5,331			6,746		2,049			7,178
Property taxes		2,835		7,034			5,766			2,517		2,310			2,970
Credit loss expense		-		-			-			-		-			-
Other operating expenses		9,928		24,202			7,907			8,646		6,254			9,127
Total operating expenses		52,921		67,998			55,025			57,831		42,487			55,694
Income (loss) from operations		15,870		(57,169	)		16,595			28,480		(18,007	)		(28,352	)
Other expenses
Interest expenses		14,768		-			18,119			10,468		-			8,000
Total Other income (expense)		14,768		-			18,119			10,468		-			8,000
Net income (loss)	$	1,102	$	(57,169	)	$	(1,524	)	$	18,012	$	(18,007	)	$	(36,352	)

See the accompanying notes to these consolidated and consolidating financial statements.

F-12

ARRIVED STR, LLC AND ITS SERIES

UNAUDITED CONSOLIDATED AND CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME (LOSS)

FOR THE SIX MONTHS ENDED JUNE 30, 2024

	Havasu			Hickorybear			Kinlani		Koi		Lakeridge			Lodge
Rental income	$	19,560		$	23,118		$	43,471	$	67,136	$	19,098		$	50,902
Operating expenses:
Depreciation		21,467			17,497			17,151		30,739		13,630			25,294
Insurance		1,469			2,043			1,101		1,311		1,113			4,331
Management fees		2,934			4,116			6,521		10,070		3,568			9,544
Management fees, related party		978			1,156			2,174		3,357		955			2,545
Repairs & maintenance		2,792			7,777			3,320		3,920		8,701			8,445
Property taxes		5,778			3,960			4,128		3,714		3,108			5,664
Credit loss expense		-			-			-		-		-			-
Other operating expenses		5,099			12,327			5,809		10,612		6,760			14,774
Total operating expenses		40,516			48,877			40,203		63,723		37,835			70,597
Income (loss) from operations		(20,956	)		(25,758	)		3,268		3,413		(18,737	)		(19,695	)
Other expenses
Interest expenses		17,580			-			-		-		10,511			-
Total Other income (expense)		17,580			-			-		-		10,511			-
Net income (loss)	$	(38,536	)	$	(25,758	)	$	3,268	$	3,413	$	(29,248	)	$	(19,695	)

See the accompanying notes to these consolidated and consolidating financial statements.

F-13

ARRIVED STR, LLC AND ITS SERIES

UNAUDITED CONSOLIDATED AND CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME (LOSS)

FOR THE SIX MONTHS ENDED JUNE 30, 2024

	Longbranch			Loop			Mirage			Myrtle			Oasis			Opry
Rental income	$	34,006		$	18,625		$	28,295		$	30,431		$	31,440		$	21,067
Operating expenses:
Depreciation		21,285			20,241			10,154			13,475			20,514			15,772
Insurance		(340	)		1,965			979			2,895			1,238			1,407
Management fees		6,330			-			7,618			-			4,674			3,130
Management fees, related party		1,700			4,656			1,415			7,588			1,647			1,128
Repairs & maintenance		5,118			4,829			4,937			6,192			9,596			3,181
Property taxes		4,102			3,607			3,462			2,226			9,236			6,048
Credit loss expense		-			-			-			-			-			-
Other operating expenses		8,691			15,505			8,616			9,365			6,607			8,391
Total operating expenses		46,885			50,803			37,181			41,741			53,511			39,057
Income (loss) from operations		(12,879	)		(32,178	)		(8,886	)		(11,311	)		(22,070	)		(17,990	)
Other expenses
Interest expenses		-			-			-			-			16,761			19,009
Total Other income (expense)		-			-			-			-			16,761			19,009
Net income (loss)	$	(12,879	)	$	(32,178	)	$	(8,886	)	$	(11,311	)	$	(38,832	)	$	(36,999	)

See the accompanying notes to these consolidated and consolidating financial statements.

F-14

ARRIVED STR, LLC AND ITS SERIES

UNAUDITED CONSOLIDATED AND CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME (LOSS)

FOR THE SIX MONTHS ENDED JUNE 30, 2024

	Orchard			Palm			Pasquin			Pickler		Pointbreak			Regal
Rental income	$	13,375		$	41,151		$	20,991		$	86,389	$	37,494		$	25,500
Operating expenses:
Depreciation		16,690			16,322			17,944			29,528		11,008			18,272
Insurance		1,140			10,976			1,319			1,434		5,165			1,729
Management fees		3,491			12,745			9,648			12,942		-			3,825
Management fees, related party		669			2,058			1,050			4,857		8,954			2,550
Repairs & maintenance		8,521			13,166			6,331			3,536		5,356			16,728
Property taxes		3,024			3,438			2,478			6,048		1,098			5,226
Credit loss expense		-			-			-			-		-			-
Other operating expenses		7,462			8,728			11,542			13,974		11,758			25,145
Total operating expenses		40,997			67,433			50,312			72,319		43,337			73,475
Income (loss) from operations		(27,622	)		(26,282	)		(29,320	)		14,070		(5,843	)		(47,975	)
Other expenses
Interest expenses		-			11,628			-			-		5,290			20,556
Total Other income (expense)		-			11,628			-			-		5,290			20,556
Net income (loss)	$	(27,622	)	$	(37,909	)	$	(29,320	)	$	14,070	$	(11,133	)	$	(68,531	)

See the accompanying notes to these consolidated and consolidating financial statements.

F-15

ARRIVED STR, LLC AND ITS SERIES

UNAUDITED CONSOLIDATED AND CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME (LOSS)

FOR THE SIX MONTHS ENDED JUNE 30, 2024

	Serenity			Smokey			Solstice			Sugarcreek			SuiteSpot		Consolidated
Rental income	$	51,541		$	21,679		$	18,382		$	9,555		$	79,910	$	1,082,489
Operating expenses:
Depreciation		26,493			17,498			18,979			11,608			21,616		555,404
Insurance		1,536			1,870			1,528			966			1,818		69,554
Management fees		7,775			-			3,418			1,755			-		169,645
Management fees, related party		2,577			5,420			919			478			19,977		93,274
Repairs & maintenance		4,164			3,532			3,169			8,896			7,953		179,823
Property taxes		6,024			4,098			3,984			2,310			4,950		121,142
Credit loss expense		-			-			-			-			-		-
Other operating expenses		8,416			23,853			5,437			7,475			13,215		315,623
Total operating expenses		56,985			56,270			37,434			33,488			69,530		1,504,464
Income (loss) from operations		(5,444	)		(34,591	)		(19,053	)		(23,933	)		10,380		(421,975	)
Other expenses
Interest expenses		18,334			-			-			7,814			-		178,838
Total Other income (expense)		18,334			-			-			7,814			-		178,838
Net income (loss)	$	(23,778	)	$	(34,591	)	$	(19,053	)	$	(31,747	)	$	10,380	$	(600,813	)

See the accompanying notes to these consolidated and consolidating financial statements.

F-16

ARRIVED STR, LLC AND ITS SERIES

UNAUDITED CONSOLIDATED AND CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME (LOSS)

FOR THE SIX MONTHS ENDED JUNE 30, 2023

	Ace			Billingswood			Cactus			Cardinal			Coolbaugh			Hammock
Total revenue	$	60,976		$	-		$	62,733		$	97,879		$	747		$	44,693
Operating expenses
Depreciation		25,753			1,759			18,601			10,158			1,921			12,516
Insurance		2,602			863			2,586			1,981			463			4,804
Management Fees		12,201			-			12,101			19,336			38			8,766
Repair and maintenance		2,586			22,500			10,339			4,597			42,124			580
Property taxes		5,400			6,304			2,104			3,965			958			3,670
Other operating expenses		10,918			5,750			8,310			16,109			8,200			10,048
Total Operating expenses		59,460			37,176			54,041			56,146			53,704			40,384
Loss from operations		1,516			(37,176	)		8,692			41,733			(52,957	)		4,309
Other expenses
Other income		-			-			-			-			-			21
Interest expense		(12,333	)		-			(16,238	)		(8,742	)		-			(9,496	)
Total other expenses		(12,333	)		-			(16,238	)		(8,742	)		-			(9,475	)
Net income (loss)	$	(10,817	)	$	(37,176	)	$	(7,546	)	$	32,991		$	(52,957	)	$	(5,166	)

See the accompanying notes to these consolidated and consolidating financial statements.

F-17

ARRIVED STR, LLC AND ITS SERIES

UNAUDITED CONSOLIDATED AND CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME (LOSS)

FOR THE SIX MONTHS ENDED JUNE 30, 2023

	Havasu			Hickorybear			Kinlani			Koi			Lakeridge			Lodge
Total revenue	$	25,746		$	2,092		$	9,301		$	-		$	8,729		$	9,722
Operating expenses
Depreciation		19,060			4,936			7,199			8,633			9,348			20,916
Insurance		2,718			1,513			1,135			905			1,748			2,937
Management Fees		4,716			2,982			16,926			-			2,619			5,125
Repair and maintenance		15,432			67,715			17,723			14,579			249			35,243
Property taxes		2,207			5,040			5,250			1,856			3,108			5,665
Other operating expenses		6,584			8,973			5,834			5,950			5,493			13,594
Total Operating expenses		50,717			91,159			54,067			31,923			22,565			83,480
Loss from operations		(24,971	)		(89,067	)		(44,766	)		(31,923	)		(13,836	)		(73,758	)
Other expenses
Other income		-			374			-			-			-			-
Interest expense		(15,435	)		(8,254	)		(23,941	)		-			(9,228	)		-
Total other expenses		(15,435	)		(7,880	)		(23,941	)		-			(9,228	)		-
Net income (loss)	$	(40,406	)	$	(96,947	)	$	(68,707	)	$	(31,923	)	$	(23,064	)	$	(73,758	)

See the accompanying notes to these consolidated and consolidating financial statements.

F-18

ARRIVED STR, LLC AND ITS SERIES

UNAUDITED CONSOLIDATED AND CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME (LOSS)

FOR THE SIX MONTHS ENDED JUNE 30, 2023

	Longbranch			Loop			Mirage			Myrtle			Oasis			Opry
Total revenue	$	3,607		$	1,596		$	26,155		$	4,069		$	44,979		$	27,887
Operating expenses
Depreciation		4,050			1,489			8,371			4,618			20,514			10,274
Insurance		1,696			758			1,959			1,511			1,976			4,538
Management Fees		23,291			11,381			5,384			2,165			7,577			4,598
Repair and maintenance		35,277			15,950			10,393			69,918			866			57,462
Property taxes		2,214			1,192			5,725			6,278			(2,929	)		9,817
Other operating expenses		6,209			5,144			20,264			2,022			15,977			16,874
Total Operating expenses		72,737			35,914			52,096			86,512			43,981			103,563
Loss from operations		(69,130	)		(34,318	)		(25,941	)		(82,443	)		998			(75,676	)
Other expenses
Other income		-			-			-			-			-			15
Interest expense		-			-			-			-			(16,149	)		(16,266	)
Total other expenses		-			-			-			-			(16,149	)		(16,251	)
Net income (loss)	$	(69,130	)	$	(34,318	)	$	(25,941	)	$	(82,443	)	$	(15,151	)	$	(91,927	)

See the accompanying notes to these consolidated and consolidating financial statements.

F-19

ARRIVED STR, LLC AND ITS SERIES

UNAUDITED CONSOLIDATED AND CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME (LOSS)

FOR THE SIX MONTHS ENDED JUNE 30, 2023

	Orchard			Palm			Pasquin			Pickler			Pointbreak			Regal
Total revenue	$	9,160		$	31,471		$	448		$	9,747		$	21,535		$	18,171
Operating expenses
Depreciation		15,606			13,855			3,122			2,460			10,033			10,883
Insurance		1,569			413			1,038			1,251			5,390			2,205
Management Fees		2,480			15,090			89			787			4,168			3,043
Repair and maintenance		(1,722	)		37,581			61,035			-			3,587			2,660
Property taxes		549			4,687			3,150			2,017			3,742			14,725
Other operating expenses		6,679			17,262			11,349			3,250			7,873			7,779
Total Operating expenses		25,161			88,888			79,783			9,765			34,793			41,295
Loss from operations		(16,001	)		(57,417	)		(79,335	)		(18	)		(13,258	)		(23,124	)
Other expenses
Other income		-			76			(335	)		-			-			90
Interest expense		-			(10,208	)		-			-			(7,029	)		(17,789	)
Total other expenses		-			(10,132	)		(335	)		-			(7,029	)		(17,699	)
Net income (loss)	$	(16,001	)	$	(67,549	)	$	(79,670	)	$	(18	)	$	(20,287	)	$	(40,823	)

See the accompanying notes to these consolidated and consolidating financial statements.

F-20

ARRIVED STR, LLC AND ITS SERIES

UNAUDITED CONSOLIDATED AND CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME (LOSS)

FOR THE SIX MONTHS ENDED JUNE 30, 2023

	Serenity			Smokey			Sugarcreek			SuiteSpot			Consolidated
Total revenue	$	59,103		$	-		$	324		$	-		$	580,870
Operating expenses
Depreciation		20,804			1,670			7,991			-			276,540
Insurance		2,943			601			1,333			-			53,436
Management Fees		35,368			1,501			85			-			201,817
Repair and maintenance		2,930			35,631			10,890			4,358			580,483
Property taxes		2,207			1,365			2,310			825			103,401
Other operating expenses		8,236			6,160			4,309			790			245,940
Total Operating expenses		72,488			46,928			26,918			5,973			1,461,617
Loss from operations		(13,385	)		(46,928	)		(26,594	)		(5,973	)		(880,747	)
Other expenses
Other income		-			-			-			-			241
Interest expense		(16,302	)		-			(6,860	)		(1,828	)		(196,098	)
Total other expenses		(16,302	)		-			(6,860	)		(1,828	)		(195,857	)
Net income (loss)	$	(29,687	)	$	(46,928	)	$	(33,454	)	$	(7,801	)	$	(1,076,604	)

See the accompanying notes to these consolidated and consolidating financial statements.

F-21

ARRIVED STR, LLC AND ITS SERIES

UNAUDITED CONSOLIDATED AND CONSOLIDATING STATEMENT OF CHANGES IN MEMBERS’ EQUITY (DEFICIT)

FOR THE SIX MONTHS ENDED JUNE 30, 2024

	Ace			Billingswood			Cactus			Cardinal			Coolbaugh			Hammock
Balance at January 1, 2024	$	624,704		$	918,654		$	633,528		$	480,013		$	531,274		$	337,382
Issuance of membership units, net of offering costs		(100	)		(300	)		(1,200	)		(650	)		(300	)		(100	)
Deemed contribution from Manager		-			23,130			-			-			6,207			22,235
Distributions		(23,003	)		(14,106	)		(23,067	)		(17,079	)		(9,825	)		(6,267	)
Net income (loss)		1,102			(57,169	)		(1,524	)		18,012			(18,007	)		(36,352	)
Balance at June 30, 2024	$	602,704		$	870,209		$	607,737		$	480,296		$	509,350		$	316,897

See the accompanying notes to these consolidated and consolidating financial statements.

F-22

ARRIVED STR, LLC AND ITS SERIES

UNAUDITED CONSOLIDATED AND CONSOLIDATING STATEMENT OF CHANGES IN MEMBERS’ EQUITY (DEFICIT)

FOR THE SIX MONTHS ENDED JUNE 30, 2024

	Havasu			Hickorybear			Kinlani			Koi			Lakeridge			Lodge
Balance at January 1, 2024	$	650,225		$	770,616		$	820,096		$	833,110		$	335,750		$	1,125,737
Issuance of membership units, net of offering costs		-			(400	)		(300	)		-			-			(400	)
Deemed contribution from Manager		-			-			-			-			-			-
Distributions		(12,310	)		(21,255	)		(23,621	)		(10,476	)		(5,001	)		(31,676	)
Net income (loss)		(38,536	)		(25,758	)		3,268			3,413			(29,248	)		(19,695	)
Balance at June 30, 2024	$	599,379		$	723,203		$	799,443		$	826,048		$	301,501		$	1,073,966

See the accompanying notes to these consolidated and consolidating financial statements.

F-23

ARRIVED STR, LLC AND ITS SERIES

UNAUDITED CONSOLIDATED AND CONSOLIDATING STATEMENT OF CHANGES IN MEMBERS’ EQUITY (DEFICIT)

FOR THE SIX MONTHS ENDED JUNE 30, 2024

	Longbranch			Loop			Mirage			Myrtle			Oasis			Opry
Balance at January 1, 2024	$	918,565		$	729,603		$	547,678		$	496,670		$	529,741		$	683,641
Issuance of membership units, net of offering costs		(300	)		(400	)		(450	)		-			-			(700	)
Deemed contribution from Manager		-			-			-			1,428			-			-
Distributions		(23,852	)		(12,556	)		(10,089	)		(10,704	)		(14,186	)		(15,619	)
Net income (loss)		(12,879	)		(32,178	)		(8,886	)		(11,311	)		(38,832	)		(36,999	)
Balance at June 30, 2024	$	881,534		$	684,469		$	528,253		$	476,083		$	476,724		$	630,323

See the accompanying notes to these consolidated and consolidating financial statements.

F-24

ARRIVED STR, LLC AND ITS SERIES

UNAUDITED CONSOLIDATED AND CONSOLIDATING STATEMENT OF CHANGES IN MEMBERS’ EQUITY (DEFICIT)

FOR THE SIX MONTHS ENDED JUNE 30, 2024

	Orchard			Palm			Pasquin			Pickler			Pointbreak			Regal
Balance at January 1, 2024	$	623,085		$	373,979		$	546,609		$	1,274,074		$	226,185		$	613,512
Issuance of membership units, net of offering costs		(1,050	)		(450	)		(100	)		(300	)		(500	)		(300	)
Deemed contribution from Manager		-			-			-			-			-			-
Distributions		(8,455	)		(6,459	)		(10,096	)		(29,669	)		(4,562	)		(14,001	)
Net income (loss)		(27,622	)		(37,909	)		(29,320	)		14,070			(11,133	)		(68,531	)
Balance at June 30, 2024	$	585,958		$	329,161		$	507,092		$	1,258,175		$	209,990		$	530,680

See the accompanying notes to these consolidated and consolidating financial statements.

F-25

ARRIVED STR, LLC AND ITS SERIES

UNAUDITED CONSOLIDATED AND CONSOLIDATING STATEMENT OF CHANGES IN MEMBERS’ EQUITY (DEFICIT)

FOR THE SIX MONTHS ENDED JUNE 30, 2024

	Serenity			Smokey			Solstice			Sugarcreek			SuiteSpot			Consolidated
Balance at January 1, 2024	$	755,875		$	816,006		$	897,576		$	231,687		$	970,565		$	19,296,141
Issuance of membership units, net of offering costs		(500	)		(300	)		-			(100	)		(100	)		(9,300	)
Deemed contribution from Manager		-			-			-			-			-			53,000
Distributions		(27,820	)		(13,565	)		(19,957	)		(3,776	)		(33,302	)		(456,352	)
Net income (loss)		(23,778	)		(34,591	)		(19,053	)		(31,747	)		10,380			(600,813	)
Balance at June 30, 2024	$	703,777		$	767,550		$	858,567		$	196,063		$	947,543		$	18,282,675

See the accompanying notes to these consolidated and consolidating financial statements.

F-26

ARRIVED STR, LLC AND ITS SERIES

UNAUDITED CONSOLIDATED AND CONSOLIDATING STATEMENT OF CHANGES IN MEMBERS’ EQUITY (DEFICIT)

FOR THE SIX MONTHS ENDED JUNE 30, 2023

	Ace			Billingswood			Cactus			Cardinal			Coolbaugh			Hammock
Balance at January 1, 2023	$	701,087		$	-		$	711,258		$	520,020		$	-		$	409,248
Issuance of membership units, net of offering costs		(1,100	)		637,921			(300	)		(1,100	)		653,631			-
Deemed contribution from Manager		-			2,875			-			-			-			-
Distributions		(26,797	)		-			(30,438	)		(33,905	)		(8,559	)		(14,764	)
Net income (loss)		(10,817	)		(37,176	)		(7,546	)		32,991			(52,957	)		(5,166	)
Balance at June 30, 2023	$	662,374		$	603,620		$	672,974		$	518,007		$	592,115		$	389,319

See the accompanying notes to these consolidated and consolidating financial statements.

F-27

ARRIVED STR, LLC AND ITS SERIES

UNAUDITED CONSOLIDATED AND CONSOLIDATING STATEMENT OF CHANGES IN MEMBERS’ EQUITY (DEFICIT)

FOR THE SIX MONTHS ENDED JUNE 30, 2023

	Havasu			Hickorybear			Kinlani			Koi			Lakeridge			Lodge
Balance at January 1, 2023	$	756,943		$	-		$	-		$	-		$	407,374		$	(29,867	)
Issuance of membership units, net of offering costs		(100	)		916,283			897,392			940,513			-			1,303,346
Deemed contribution from Manager		-			453			2,240			-			-			1,984
Distributions		(20,223	)		(12,052	)		(11,811	)		(13,363	)		(11,775	)		(15,720	)
Net income (loss)		(40,406	)		(96,947	)		(68,707	)		(31,923	)		(23,064	)		(73,758	)
Balance at June 30, 2023	$	696,215		$	807,738		$	819,114		$	895,227		$	372,535		$	1,185,986

See the accompanying notes to these consolidated and consolidating financial statements.

F-28

ARRIVED STR, LLC AND ITS SERIES

UNAUDITED CONSOLIDATED AND CONSOLIDATING STATEMENT OF CHANGES IN MEMBERS’ EQUITY (DEFICIT)

FOR THE SIX MONTHS ENDED JUNE 30, 2023

	Longbranch			Loop			Mirage			Myrtle			Oasis			Opry
Balance at January 1, 2023	$	-		$	-		$	607,250		$	(2,425	)	$	599,120		$	809,513
Issuance of membership units, net of offering costs		1,029,011			832,486			(100	)		591,073			(2,100	)		-
Deemed contribution from Manager		-			-			-			917			-			-
Distributions		(13,515	)		(10,926	)		(13,474	)		(6,448	)		(13,951	)		(13,023	)
Net income (loss)		(69,130	)		(34,318	)		(25,941	)		(82,443	)		(15,151	)		(91,927	)
Balance at June 30, 2023	$	946,366		$	787,243		$	567,735		$	500,674		$	567,918		$	704,563

See the accompanying notes to these consolidated and consolidating financial statements.

F-29

ARRIVED STR, LLC AND ITS SERIES

UNAUDITED CONSOLIDATED AND CONSOLIDATING STATEMENT OF CHANGES IN MEMBERS’ EQUITY (DEFICIT)

FOR THE SIX MONTHS ENDED JUNE 30, 2023

	Orchard			Palm			Pasquin			Pickler			Pointbreak			Regal
Balance at January 1, 2023	$	677,184		$	470,653		$	-		$	-		$	296,115		$	(23,922	)
Issuance of membership units, net of offering costs		(100	)		-			669,458			1,368,811			-			701,045
Deemed contribution from Manager		-			-			-			-			-			-
Distributions		(19,929	)		(11,411	)		(10,257	)		(17,994	)		(8,061	)		(16,095	)
Net income (loss)		(16,001	)		(67,549	)		(79,670	)		(18	)		(20,287	)		(40,823	)
Balance at June 30, 2023	$	641,154		$	391,693		$	579,531		$	1,350,799		$	267,767		$	620,205

See the accompanying notes to these consolidated and consolidating financial statements.

F-30

ARRIVED STR, LLC AND ITS SERIES

UNAUDITED CONSOLIDATED AND CONSOLIDATING STATEMENT OF CHANGES IN MEMBERS’ EQUITY (DEFICIT)

FOR THE SIX MONTHS ENDED JUNE 30, 2023

	Serenity			Smokey			Sugarcreek			SuiteSpot			Consolidated
Balance at January 1, 2023	$	856,185		$	-		$	315,964		$	-		$	8,081,702
Issuance of membership units, net of offering costs		-			800,763			-			-			11,336,834
Deemed contribution from Manager		-			2,635			-			-			11,105
Distributions		(26,606	)		-			(5,944	)		-			(387,040	)
Net income (loss)		(29,687	)		(46,928	)		(33,454	)		(7,801	)		(1,076,602	)
Balance at June 30, 2023	$	799,892		$	756,470		$	276,566		$	(7,801	)	$	17,965,999

See the accompanying notes to these consolidated and consolidating financial statements.

F-31

ARRIVED STR, LLC AND ITS SERIES

UNAUDITED CONSOLIDATED AND CONSOLIDATING STATEMENT OF CASH FLOWS

FOR THE SIX MONTHS ENDED JUNE 30, 2024

	Ace			Billingswood			Cactus			Cardinal			Coolbaugh			Hammock
Cash Flows from Operating Activities:
Net income (loss)	$	1,102		$	(57,169	)	$	(1,524	)	$	18,012		$	(18,007	)	$	(36,352	)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Depreciation		20,258			28,880			20,761			21,281			18,536			12,511
Amortization		159			-			1,101			117			-			487
(Increase) Decrease in assets
Other receivables		-			-			-			-			-			-
Due (from) to third party property managers		(2,860	)		4,119			(3,581	)		(5,102	)		(3,905	)		(1,979	)
Prepaid expenses		(5,877	)		(5,157	)		-			(4,321	)		-			-
Increase (decrease) in liabilities
Accrued expenses		9,862			-			18,072			7,866			5,978			20,990
Accounts payable		100			300			3,631			650			300			100
Due to (from) related parties, property manager		-			4,119			-			-			-			-
Due to (from) related parties		35,597			3,932			(12,633	)		(8,676	)		(9,197	)		(25,038	)
Net cash provided by (used in) operating activities		45,560			8,351			9,071			(160	)		(2,919	)		(3,948	)
Cash flows from financing activities
Net proceeds from the issuance of membership units		(100	)		(300	)		(1,200	)		(650	)		(300	)		(100	)
Contributions		-			23,130			-			-			6,207			22,235
Distributions		(23,003	)		(14,106	)		(23,067	)		(17,079	)		(9,825	)		(6,267	)
Net cash provided by (used in) financing activities		(23,103	)		8,724			(24,267	)		(17,729	)		(3,918	)		15,868
Net change in cash		22,457			17,075			(15,196	)		(17,889	)		(6,837	)		11,920
Cash at beginning of the period		12,762			5,522			35,462			26,945			10,324			1,561
Cash at end of the period	$	35,219		$	22,597		$	20,267		$	9,057		$	3,487		$	13,481
Cash paid for income taxes	$	-		$	-		$	-		$	-		$	-		$	-
Cash paid for interest expenses	$	14,768		$	-		$	18,119		$	10,468		$	-		$	8,000
Supplemental disclosure of non-cash investing and financing activities:
Advance from related party for acquisition of property	$	-		$	-		$	-		$	-		$	-		$	-
Mortgage payable, net of capitalized loan costs for acquisition of property	$	441,000		$	-		$	440,370		$	312,480		$	-		$	226,800

See the accompanying notes to these consolidated and consolidating financial statements.

F-32

ARRIVED STR, LLC AND ITS SERIES

UNAUDITED CONSOLIDATED AND CONSOLIDATING STATEMENT OF CASH FLOWS

FOR THE SIX MONTHS ENDED JUNE 30, 2024

	Havasu			Hickorybear			Kinlani			Koi			Lakeridge			Lodge
Cash Flows from Operating Activities:
Net income (loss)	$	(38,536	)	$	(25,758	)	$	3,268		$	3,413		$	(29,248	)	$	(19,695	)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Depreciation		21,467			17,497			17,151			30,739			13,630			25,294
Amortization		1,181			-			-			-			706			-
(Increase) Decrease in assets
Other receivables		-			-			-			-			-			-
Due (from) to third party property managers		363			(1,632	)		(4,647	)		(3,202	)		(4,664	)		(7,788	)
Prepaid expenses		-			-			-			-			-			-
Increase (decrease) in liabilities
Accrued expenses		12,177			13,364			14,068			9,325			10,215			13,652
Accounts payable		2,343			400			300			-			-			400
Due to (from) related parties, property manager		363			-			-			-			-			-
Due to (from) related parties		5,726			231			(14,404	)		33,992			(21,961	)		16,232
Net cash provided by (used in) operating activities		20,608			13,995			(37	)		43,317			(11,746	)		30,284
Cash flows from financing activities
Net proceeds from the issuance of membership units		-			(400	)		(300	)		-			-			(400	)
Contributions		-			-			-			-			-			-
Distributions		(12,310	)		(21,255	)		(23,621	)		(10,476	)		(5,001	)		(31,676	)
Net cash provided by (used in) financing activities		(12,310	)		(21,655	)		(23,921	)		(10,476	)		(5,001	)		(32,076	)
Net change in cash		8,298			(7,661	)		(23,958	)		32,842			(16,747	)		(1,792	)
Cash at beginning of the period		15,342			28,072			59,888			-			20,120			43,291
Cash at end of the period	$	23,640		$	20,412		$	35,930		$	32,842		$	3,373		$	41,500
Cash paid for income taxes	$	-		$	-		$	-		$	-		$	-		$	-
Cash paid for interest expenses	$	17,580		$	-		$	-		$	-		$	10,511		$	-
Supplemental disclosure of non-cash investing and financing activities:
Advance from related party for acquisition of property	$	-		$	-		$	-		$	680,206		$	-		$	-
Mortgage payable, net of capitalized loan costs for acquisition of property	$	472,500		$	-		$	-		$	-		$	282,500		$	-

See the accompanying notes to these consolidated and consolidating financial statements.

F-33

ARRIVED STR, LLC AND ITS SERIES

UNAUDITED CONSOLIDATED AND CONSOLIDATING STATEMENT OF CASH FLOWS

FOR THE SIX MONTHS ENDED JUNE 30, 2024

	Longbranch			Loop			Mirage			Myrtle			Oasis			Opry
Cash Flows from Operating Activities:
Net income (loss)	$	(12,879	)	$	(32,178	)	$	(8,886	)	$	(11,311	)	$	(38,832	)	$	(36,999	)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Depreciation		21,285			20,241			10,154			13,475			20,514			15,772
Amortization		-			-			-			-			613			1,155
(Increase) Decrease in assets
Other receivables		(4,544	)		-			-			-			-			-
Due (from) to third party property managers		(5,419	)		-			1,545			-			(6,786	)		(4,264	)
Prepaid expenses		(585	)		-			(512	)		-			(4,601	)		-
Increase (decrease) in liabilities
Accrued expenses		14,600			9,831			8,834			8,630			4,331			29,440
Accounts payable		300			400			450			-			-			3,251
Due to (from) related parties, property manager		-			-			1,545			-			-			-
Due to (from) related parties		(18,272	)		5,820			(967	)		6,775			12,834			(47,989	)
Net cash provided by (used in) operating activities		(3,373	)		16,051			9,863			15,405			17,165			(15,298	)
Cash flows from financing activities
Net proceeds from the issuance of membership units		(300	)		(400	)		(450	)		-			-			(700	)
Contributions		-			-			-			1,428			-			-
Distributions		(23,852	)		(12,556	)		(10,089	)		(10,704	)		(14,186	)		(15,619	)
Net cash provided by (used in) financing activities		(24,152	)		(12,956	)		(10,539	)		(9,275	)		(14,186	)		(16,319	)
Net change in cash		(27,525	)		3,095			(676	)		6,130			2,979			(31,617	)
Cash at beginning of the period		53,534			9,253			18,754			25,351			6,434			79,528
Cash at end of the period	$	26,009		$	12,348		$	18,077		$	31,480		$	9,413		$	47,911
Cash paid for income taxes	$	-		$	-		$	-		$	-		$	-		$	-
Cash paid for interest expenses	$	-		$	-		$	-		$	-		$	16,761		$	19,009
Supplemental disclosure of non-cash investing and financing activities:
Advance from related party for acquisition of property	$	-		$	-		$	-		$	-		$	-		$	-
Mortgage payable, net of capitalized loan costs for acquisition of property	$	-		$	-		$	-		$	-		$	487,500		$	462,000

See the accompanying notes to these consolidated and consolidating financial statements.

F-34

ARRIVED STR, LLC AND ITS SERIES

UNAUDITED CONSOLIDATED AND CONSOLIDATING STATEMENT OF CASH FLOWS

FOR THE SIX MONTHS ENDED JUNE 30, 2024

	Orchard			Palm			Pasquin			Pickler			Pointbreak			Regal
Cash Flows from Operating Activities:
Net income (loss)	$	(27,622	)	$	(37,909	)	$	(29,320	)	$	14,070		$	(11,133	)	$	(68,531	)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Depreciation		16,690			16,322			17,944			29,528			11,008			18,272
Amortization		-			781			-			-			73			1,188
(Increase) Decrease in assets
Other receivables		-			-			-			-			-			-
Due (from) to third party property managers		(245	)		(688	)		(2,443	)		(4,446	)		-			1,000
Prepaid expenses		-			-			-			-			(1,755	)		-
Increase (decrease) in liabilities
Accrued expenses		7,796			17,632			5,638			18,102			6,598			14,524
Accounts payable		1,050			2,000			100			300			500			3,067
Due to (from) related parties, property manager		-			-			-			-			(1,761	)		1,000
Due to (from) related parties		(17,711	)		(5,758	)		(8,247	)		38,127			(8,190	)		673
Net cash provided by (used in) operating activities		(8,865	)		13,873			(2,510	)		56,529			(2,852	)		19,264
Cash flows from financing activities
Net proceeds from the issuance of membership units		(1,050	)		(450	)		(100	)		(300	)		(500	)		(300	)
Contributions		-			-			-			-			-			-
Distributions		(8,455	)		(6,459	)		(10,096	)		(29,669	)		(4,562	)		(14,001	)
Net cash provided by (used in) financing activities		(9,505	)		(6,909	)		(10,196	)		(29,969	)		(5,062	)		(14,301	)
Net change in cash		(18,370	)		6,964			(12,706	)		26,560			(7,914	)		4,963
Cash at beginning of the period		26,625			5,917			18,902			81,534			88,877			55,625
Cash at end of the period	$	8,255		$	12,881		$	6,197		$	108,094		$	80,962		$	60,588
Cash paid for income taxes	$	-		$	-		$	-		$	-		$	-		$	-
Cash paid for interest expenses	$	-		$	11,628		$	-		$	-		$	5,290		$	20,556
Supplemental disclosure of non-cash investing and financing activities:
Advance from related party for acquisition of property	$	-		$	-		$	-		$	-		$	-		$	-
Mortgage payable, net of capitalized loan costs for acquisition of property	$	-		$	312,500		$	-		$	-		$	157,500		$	475,000

See the accompanying notes to these consolidated and consolidating financial statements.

F-35

ARRIVED STR, LLC AND ITS SERIES

UNAUDITED CONSOLIDATED AND CONSOLIDATING STATEMENT OF CASH FLOWS

FOR THE SIX MONTHS ENDED JUNE 30, 2024

	Serenity			Smokey			Solstice			Sugarcreek			SuiteSpot			Consolidated
Cash Flows from Operating Activities:
Net income (loss)	$	(23,778	)	$	(34,591	)	$	(19,053	)	$	(31,747	)	$	10,380		$	(600,813	)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Depreciation		26,493			17,498			18,979			11,608			21,616			555,404
Amortization		1,232			-			-			525			-			9,318
(Increase) Decrease in assets
Other receivables		-			-			-			-			-			(4,544	)
Due (from) to third party property managers		437			315			(4,750	)		2,572			-			(58,053	)
Prepaid expenses		-			-			(4,979	)		-			(1,013	)		(28,799	)
Increase (decrease) in liabilities
Accrued expenses		19,455			10,697			12,489			5,853			19,868			349,890
Accounts payable		2,943			1,000			-			1,141			100			25,125
Due to (from) related parties, property manager		437			315			-			2,572			-			8,590
Due to (from) related parties		29,442			(10,131	)		(39,564	)		(10,807	)		16,522			(53,642	)
Net cash provided by (used in) operating activities		52,278			1,882			(27,075	)		(1,241	)		36,491			329,964
Cash flows from financing activities
Net proceeds from the issuance of membership units		(500	)		(300	)		-			(100	)		(100	)		(9,300	)
Contributions		-			-			-			-			-			53,000
Distributions		(27,820	)		(13,565	)		(19,957	)		(3,776	)		(33,302	)		(456,352	)
Net cash provided by (used in) financing activities		(28,320	)		(13,865	)		(19,957	)		(3,876	)		(33,402	)		(412,653	)
Net change in cash		23,958			(11,984	)		(47,032	)		(5,117	)		3,089			(82,689	)
Cash at beginning of the period		78,386			33,755			126,133			5,117			26,062			999,076
Cash at end of the period	$	102,344		$	21,771		$	79,101		$	-		$	29,150		$	916,387
Cash paid for income taxes	$	-		$	-		$	-		$	-		$	-		$	-
Cash paid for interest expenses	$	18,334		$	-		$	-		$	7,814		$	-		$	178,838
Supplemental disclosure of non-cash investing and financing activities:
Advance from related party for acquisition of property	$	-		$	-		$	-		$	-		$	-		$	680,206
Mortgage payable, net of capitalized loan costs for acquisition of property	$	492,750		$	-		$	-		$	210,000		$	-		$	4,772,900

See the accompanying notes to these consolidated and consolidating financial statements.

F-36

ARRIVED STR, LLC AND ITS SERIES

UNAUDITED CONSOLIDATED AND CONSOLIDATING STATEMENT OF CASH FLOWS

FOR THE SIX MONTHS ENDED JUNE 30, 2023

	Ace			Billingswood			Cactus			Cardinal			Coolbaugh			Hammock
Cash Flows from Operating Activities:
Net income (loss)	$	(10,817	)	$	(37,176	)	$	(7,546	)	$	32,991		$	(52,957	)	$	(5,166	)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Depreciation		25,753			1,759			18,601			10,158			1,921			12,516
Amortization		159			-			1,651			117			-			975
(Increase) Decrease in assets
Prepaid expenses		(5,039	)		(1,797	)		(2,210	)		(3,855	)		(1,072	)		(2,402	)
Due to (from) third party pm		(4,515	)		-			(2,753	)		(6,674	)		(9,907	)		(28,334	)
Increase (decrease) in liabilities
Accrued expenses		9,997			2,553			30,802			7,538			19,911			14,316
Due to (from) related parties		49,214			22,476			12,545			73,756			18,575			22,766
Net cash provided by (used in) operating activities		64,753			(12,185	)		51,090			114,032			(23,529	)		14,671
Cash flows from financing activities
Repayments of amounts due to related party		-			(601,835	)		-			(94,873	)		(586,850	)		-
Net proceeds from the issuance of membership units		(1,100	)		637,921			(300	)		(1,100	)		653,631			-
Distributions		26,797			-			30,438			33,905			8,559			14,764
Net cash provided by (used in) financing activities		25,697			36,086			30,138			(62,068	)		75,340			14,764
Net change in cash		90,449			23,901			81,228			51,963			51,812			29,435
Cash at beginning of period		-			-			-			-			-			-
Cash at end of period	$	90,449		$	23,901		$	81,228		$	51,963		$	51,812		$	29,435
Cash paid for income taxes	$	-		$	-		$	-		$	-		$	-		$	-
Cash paid for interest expenses	$	(12,174	)	$	-		$	(14,587	)	$	(8,625	)	$	-		$	(8,521	)
Supplemental disclosure of non-cash investing and financing activities:
Advance from related party for acquisition of property	$	1,046,555		$	774,096		$	1,048,710		$	744,670		$	422,472		$	543,491
Acquisition of property	$	1,046,555		$	774,096		$	1,048,710		$	744,670		$	422,472		$	543,491
Offering expenses	$	(107,122	)	$	(92,769	)	$	(104,256	)	$	(77,472	)	$	(59,659	)	$	(64,165	)
Deemed contribution from Manager	$	425		$	2,875		$	425		$	425		$	-		$	425

See the accompanying notes to these consolidated and consolidating financial statements.

F-37

ARRIVED STR, LLC AND ITS SERIES

UNAUDITED CONSOLIDATED AND CONSOLIDATING STATEMENT OF CASH FLOWS

FOR THE SIX MONTHS ENDED JUNE 30, 2023

	Havasu			Hickorybear			Kinlani			Koi			Lakeridge			Lodge
Cash Flows from Operating Activities:
Net income (loss)	$	(40,406	)	$	(96,947	)	$	(68,707	)	$	(31,923	)	$	(23,064	)	$	(73,758	)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Depreciation		19,060			4,936			7,199			8,633			9,348			20,916
Amortization		1,378			5,080			6,245			-			824			-
(Increase) Decrease in assets
Prepaid expenses		(2,275	)		(3,223	)		(1,649	)		(1,566	)		(1,203	)		(4,750	)
Due to (from) third party pm		(7,215	)		(1,043	)		(2,640	)		(1,459	)		(3,598	)		(7,552	)
Increase (decrease) in liabilities
Accrued expenses		25,604			19,253			18,328			72,190			17,372			23,976
Due to (from) related parties		125,668			16,079			9,508			16,996			38,473			42,314
Net cash provided by (used in) operating activities		121,814			(55,866	)		(31,716	)		62,871			38,153			1,146
Cash flows from financing activities
Repayments of amounts due to related party		-			(828,902	)		(770,808	)		(884,701	)		-			(1,229,590	)
Net proceeds from the issuance of membership units		(100	)		916,283			897,392			940,513			-			1,303,346
Distributions		20,223			12,052			11,811			13,363			11,775			15,720
Net cash provided by (used in) financing activities		20,123			99,432			138,396			69,174			11,775			89,476
Net change in cash		141,936			43,567			106,680			132,046			49,928			90,622
Cash at beginning of period		-			-			-			-			-			-
Cash at end of period	$	141,936		$	43,567		$	106,680		$	132,046		$	49,928		$	90,622
Cash paid for income taxes	$	-		$	-		$	200		$	-		$	-		$	-
Cash paid for interest expenses	$	(14,057	)	$	(3,174	)	$	(17,696	)	$	-		$	(8,404	)	$	-
Supplemental disclosure of non-cash investing and financing activities:
Advance from related party for acquisition of property	$	1,050,410		$	723,953		$	750,795		$	675,706		$	568,498		$	1,033,934
Acquisition of property	$	1,050,410		$	723,953		$	750,795		$	675,706		$	568,498		$	1,033,934
Offering expenses	$	(109,975	)	$	(87,527	)	$	(86,878	)	$	(87,385	)	$	(59,691	)	$	(125,784	)
Deemed contribution from Manager	$	425		$	453		$	2,240		$	-		$	425		$	2,409

See the accompanying notes to these consolidated and consolidating financial statements.

F-38

ARRIVED STR, LLC AND ITS SERIES

UNAUDITED CONSOLIDATED AND CONSOLIDATING STATEMENT OF CASH FLOWS

FOR THE SIX MONTHS ENDED JUNE 30, 2023

	Longbranch			Loop			Mirage			Myrtle			Oasis			Opry
Cash Flows from Operating Activities:
Net income (loss)	$	(69,130	)	$	(34,318	)	$	(25,941	)	$	(82,443	)	$	(15,151	)	$	(91,927	)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Depreciation		4,050			1,489			8,371			4,618			20,514			10,274
Amortization		-			-			-			-			-			963
(Increase) Decrease in assets
Prepaid expenses		(6,421	)		(1,431	)		(1,904	)		(2,997	)		(3,590	)		(377	)
Due to (from) third party pm		(2,345	)		-			(3,419	)		(3,371	)		(5,857	)		(5,116	)
Increase (decrease) in liabilities
Accrued expenses		14,429			14,648			7,604			13,999			7,389			41,937
Due to (from) related parties		13,242			23,719			78,744			24,417			15,860			165,155
Net cash provided by (used in) operating activities		(46,175	)		4,107			63,455			(45,777	)		19,165			120,908
Cash flows from financing activities
Repayments of amounts due to related party		(932,415	)		(767,783	)		-			(515,643	)		-			-
Net proceeds from the issuance of membership units		1,029,011			832,486			(100	)		591,073			(2,100	)		-
Distributions		13,515			10,926			13,474			6,448			13,951			13,023
Net cash provided by (used in) financing activities		110,111			75,629			13,374			81,879			11,851			13,023
Net change in cash		63,937			79,736			76,829			36,101			31,016			133,931
Cash at beginning of period		-			-			-			-			-			-
Cash at end of period	$	63,937		$	79,736		$	76,829		$	36,101		$	31,016		$	133,931
Cash paid for income taxes	$	-		$	-		$	-		$	-		$	255		$	2,598
Cash paid for interest expenses	$	-		$	-		$	-		$	-		$	(16,149	)	$	(15,304	)
Supplemental disclosure of non-cash investing and financing activities:
Advance from related party for acquisition of property	$	809,417		$	655,045		$	620,922		$	406,028		$	980,017		$	1,103,585
Acquisition of property	$	809,417		$	655,045		$	620,922		$	406,028		$	980,017		$	1,103,585
Offering expenses	$	(97,279	)	$	(77,984	)	$	(72,786	)	$	(53,717	)	$	(96,654	)	$	(109,474	)
Deemed contribution from Manager	$	-		$	-		$	425		$	1,342		$	425		$	425

See the accompanying notes to these consolidated and consolidating financial statements.

F-39

ARRIVED STR, LLC AND ITS SERIES

UNAUDITED CONSOLIDATED AND CONSOLIDATING STATEMENT OF CASH FLOWS

FOR THE SIX MONTHS ENDED JUNE 30, 2023

	Orchard			Palm			Pasquin			Pickler			Pointbreak			Regal
Cash Flows from Operating Activities:
Net income (loss)	$	(16,001	)	$	(67,549	)	$	(79,670	)	$	(18	)	$	(20,287	)	$	(40,823	)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Depreciation		15,606			13,855			3,122			2,460			10,033			10,883
Amortization		-			911			-			-			73			1,188
(Increase) Decrease in assets
Prepaid expenses		(1,237	)		(578	)		(675	)		(2,378	)		(4,044	)		(2,077	)
Due to (from) third party pm		-			(24,649	)		-			(20,515	)		(11,042	)		(61,612	)
Increase (decrease) in liabilities
Accrued expenses		12,005			23,141			17,762			22,039			3,331			57,233
Due to (from) related parties		16,030			55,086			11,673			2,252			129,331			-
Net cash provided by (used in) operating activities		26,403			218			(47,788	)		3,840			107,394			(35,208	)
Cash flows from financing activities
Repayments of amounts due to related party		-			-			(575,345	)		(1,223,667	)		-			(546,663	)
Net proceeds from the issuance of membership units		(100	)		-			669,458			1,368,811			-			701,045
Distributions		19,929			11,411			10,257			17,994			8,061			16,095
Net cash provided by (used in) financing activities		19,829			11,411			104,371			163,138			8,061			170,477
Net change in cash		46,232			11,629			56,583			166,978			115,455			135,269
Cash at beginning of period		-			-			-			-			-			-
Cash at end of period	$	46,232		$	11,629		$	56,583		$	166,978		$	115,455		$	135,269
Cash paid for income taxes	$	-		$	-		$	-		$	-		$	-		$	-
Cash paid for interest expenses	$	-		$	(9,297	)	$	-		$	-		$	(6,956	)	$	(16,601	)
Supplemental disclosure of non-cash investing and financing activities:
Advance from related party for acquisition of property	$	553,474		$	623,678		$	457,800		$	1,082,385		$	379,158		$	955,753
Acquisition of property	$	553,474		$	623,678		$	457,800		$	1,082,385		$	379,158		$	955,753
Offering expenses	$	(68,889	)	$	(72,013	)	$	(63,202	)	$	(130,679	)	$	(47,295	)	$	(103,635	)
Deemed contribution from Manager	$	425		$	425		$	-		$	-		$	425		$	425

See the accompanying notes to these consolidated and consolidating financial statements.

F-40

ARRIVED STR, LLC AND ITS SERIES

UNAUDITED CONSOLIDATED AND CONSOLIDATING STATEMENT OF CASH FLOWS

FOR THE SIX MONTHS ENDED JUNE 30, 2023

	Serenity			Smokey			Sugarcreek			SuiteSpot			Consolidated
Cash Flows from Operating Activities:
Net income (loss)	$	(29,687	)	$	(46,928	)	$	(33,454	)	$	(7,801	)	$	(1,076,604	)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Depreciation		20,804			1,670			7,991			-			276,540
Amortization		1,643			-			613			18			21,836
(Increase) Decrease in assets
Prepaid expenses		(2,347	)		(1,606	)		(967	)		-			(63,670	)
Due to (from) third party pm		(5,037	)		-			-			-			(218,652	)
Increase (decrease) in liabilities														-
Accrued expenses		28,635			7,070			10,706			2,252			546,020
Due to (from) related parties		172,652			-			48,755			29,406			1,234,693
Net cash provided by (used in) operating activities		186,661			(39,794	)		33,643			23,875			720,164
Cash flows from financing activities
Repayments of amounts due to related party		-			(714,958	)		-			-			(10,274,034	)
Net proceeds from the issuance of membership units		-			800,763			-			-			11,336,834
Distributions		26,606			-			5,944			-			387,040
Net cash provided by (used in) financing activities		26,606			85,805			5,944			-			1,449,840
Net change in cash		213,267			46,011			39,587			23,875			2,170,004
Cash at beginning of period		-			-			-			-			-
Cash at end of period	$	213,267		$	46,011		$	39,587		$	23,875		$	2,170,004
Cash paid for income taxes	$	-		$	-		$	-		$	-		$	3,052
Cash paid for interest expenses	$	(14,659	)	$	-		$	(6,248	)	$	(1,811	)	$	(174,262	)
Supplemental disclosure of non-cash investing and financing activities:
Advance from related party for acquisition of property	$	1,080,270		$	734,846		$	422,894		$	894,625		$	21,143,183
Acquisition of property	$	1,080,270		$	734,846		$	422,894		$	894,625		$	21,143,183
Offering expenses	$	(117,302	)	$	(85,147	)	$	(44,515	)	$	-		$	(2,303,252	)
Deemed contribution from Manager	$	425		$	2,635		$	425		$	-		$	18,330

See the accompanying notes to these consolidated and consolidating financial statements.

F-41

ARRIVED STR, LLC AND ITS SERIES

NOTES TO THE CONSOLIDATED AND CONSOLIDATING FINANCIAL STATEMENTS

DECEMBER 31, 2023

NOTE 1: NATURE OF OPERATIONS

Arrived STR, LLC is a Delaware Series limited liability company formed on July 11, 2022, under the laws of Delaware. Arrived STR, LLC was formed to permit public investment in individual single family rental homes, each of which will be held by a separate property-owning subsidiary owned by a separate Series of limited liability interests, or “Series,” that Arrived Holdings, Inc. (the “Manager”) established. As a Delaware Series limited liability company, the debts, liabilities, obligations and expenses incurred, contracted for or otherwise existing with respect to a particular Series are segregated and enforceable only against the assets of such Series, as provided under Delaware law. Principal operations of Arrived STR, LLC and its Series (collectively, the “Company”) did not commence until July 31, 2022.

The following list represents each Arrived STR, LLC’s Series and each Series’ wholly-owned limited liability company (“LLC”), which was used to acquire the Series’ single family rental property, along with the date the Series was formed and the date that the Series’ LLC acquired the single family rental as of June 30, 2024.

SERIES OFFERING TABLE 

Series Name	State LLC Name and wholly owned subsidiary of the Series	Date Formed	Acquisition Date
Ace	Arrived AZ Ace, LLC	9/6/2022	9/15/2022
Billingswood	Arrived NY Billingswood, LLC	2/24/2023	4/13/2023
Cactus	Arrived AZ Cactus, LLC	9/13/2022	9/30/2022
Cardinal	Arrived AZ Cardinal, LLC	8/25/2022	9/14/2022
Coolbaugh	Arrived PA Coolbaugh, LLC	2/2/2023	3/31/2023
Hammock	Arrived FL Hammock, LLC	8/29/2022	9/23/2022
Havasu	Arrived AZ Havasu, LLC	10/21/2022	11/17/2022
Hickorybear	Arrived OK Hickorybear, LLC	1/25/2023	2/16/2023
Kinlani	Arrived AZ Kinlani, LLC	1/23/2023	2/14/2023
Koi	Arrived AZ Koi, LLC	2/22/2023	3/29/2023
Lakeridge	Arrived GA Lakeridge, LLC	10/8/2022	11/4/2022
Lodge	Arrived OK Lodge, LLC	11/2/2022	11/21/2022
Longbranch	Arrived OK Longbranch, LLC	2/17/2023	3/29/2023
Loop	Arrived TN Loop, LLC	3/6/2023	4/11/2023
Mirage	Arrived Series Mirage, a series of Arrived STR, LLC	4/7/2023	9/16/2022
Myrtle	Arrived SC Myrtle, LLC	12/2/2022	12/22/2022
Oasis	Arrived TN Oasis, LLC	7/25/2022	8/26/2022
Opry	Arrived TN Opry, LLC	9/19/2022	1/11/2023
Orchard	Arrived GA Orchard, LLC	8/25/2022	9/30/2022
Palm	Arrived FL Palm, LLC	10/10/2022	11/17/2022
Pasquin	Arrived PA Pasquin, LLC	1/23/2023	2/8/2023
Pickler	Arrived AZ Pickler, LLC	3/16/2023	4/5/2023
Pointbreak	Arrived FL Pointbreak, LLC	8/29/2022	9/20/2022
Regal	Arrived TN Regal, LLC	11/21/2022	12/19/2022
Serenity	Arrived AZ Serenity, LLC	9/28/2022	10/20/2022
Smokey	Arrived TN Smokey, LLC	3/10/2023	4/25/2023
Solstice	Arrived MO Solstice, LLC	5/24/2023	7/5/2023
Sugarcreek	Arrived GA Sugarcreek, LLC	10/8/2022	11/2/2022
SuiteSpot	Arrived AZ SuiteSpot, LLC	5/15/2023	5/23/2023

NOTE 2: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Basis of Presentation

The accounting and reporting policies of the Company and its Series (the “Company”) conform to accounting principles generally accepted in the United States of America (GAAP). The Company has adopted a calendar year as its fiscal year.

The Company is an emerging growth company as the term is used in The Jumpstart Our Business Startups Act, enacted on April 5, 2012 and has elected to comply with certain reduced public company reporting requirements, however, the Company may adopt accounting standards based on the effective dates for public entities.

In the opinion of management, all adjustments necessary in order to make the financial statements not misleading have been included.

F-42

Principles of Consolidation

These consolidated and consolidating financial statements include the accounts of Arrived STR, LLC and the Series listed in Note 1. All inter-company transactions have been eliminated.

Use of Estimates

The preparation of the consolidated and consolidating financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, and disclosures of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ significantly from those estimates.

Deferred Offering Costs

The Company complies with the requirements of Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) 340-10-S99-1 with regards to offering costs. Prior to the completion of an offering, offering costs are capitalized. The deferred offering costs are charged to members’ equity upon the completion of an offering or to expense if the offering is not completed. Offering costs include offering expense reimbursements and sourcing fees as noted below.

Per the operating agreement, the Manager is eligible to receive up to a maximum of 2% of the gross offering proceeds per the Series offering, as reimbursement for offering expenses including legal, accounting, escrow, underwriting, filing and compliance costs, as applicable, related to a specific offering.

Upon completion of an offering, the Series may also be required to pay the Manager sourcing fees as defined in the offering documents. The Manager is responsible for sourcing and analyzing the Series’ property.

Fair Value of Financial Instruments

FASB guidance specifies a hierarchy of valuation techniques based on whether the inputs to those valuation techniques are observable or unobservable. Observable inputs reflect market data obtained from independent sources, while unobservable inputs reflect market assumptions. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurement) and the lowest priority to unobservable inputs (Level 3 measurement). The three levels of the fair value hierarchy are as follows:

Level 1 - Unadjusted quoted prices in active markets for identical assets or liabilities that the reporting entity has the ability to access at the measurement date. Level 1 primarily consists of financial instruments whose value is based on quoted market prices such as exchange-traded instruments and listed equities.

Level 2 - Inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly (e.g., quoted prices of similar assets or liabilities in active markets, or quoted prices for identical or similar assets or liabilities in markets that are not active).

Level 3 - Unobservable inputs for the asset or liability. Financial instruments are considered Level 3 when their fair values are determined using pricing models, discounted cash flows or similar techniques and at least one significant model assumption or input is unobservable.

The carrying amounts of the Company’s financial instruments, such as cash and other current liabilities approximate fair values due to the short-term nature of these instruments. The estimated fair value of the Company’s long-term debt approximates the carrying value due to the interest rates on this debt approximating current market interest rates.

Management Fee

The Manager will receive from a series an annual asset management fee equal to five percent (5%) of the gross revenues applicable to that series, paid out of the series’ net operating rental income.

Property Management Fee

The Company will appoint an affiliate of the manager or a third-party property management company to serve as property manager to manage the property of each series pursuant to a property management agreement. The fee arrangements for each property management company are set forth below:

Misfit Homes LLC

Initially, as compensation for the services provided by the property manager, each series will be charged a property management fee equal to fifteen percent (15%) of all rents and fees as remitted to the series on a monthly basis. Following stabilization, as compensation for the services provided by the property manager, each series will be charged a property management fee equal to fifteen percent (15%) of all rents and fees as remitted to the series on a monthly basis and paid to the property manager pursuant to the property management agreement. Such property management fee will increase to twenty percent (20%) of all rents and fees immediately following the time at which the net operating income of the series in a calendar year exceeds eight percent (8%) of the sum of the purchase price of the series property, the related furniture, fixtures and equipment and any setup costs for such series, each as disclosed below under “Use of Proceeds to the Issuer” for such series.

F-43

Old Town Rentals LLC

Initially, as compensation for the services provided by the property manager, each series will be charged a property management fee equal to fifteen percent (15%) of all rents and fees as remitted to the series on a monthly basis. Following stabilization, as compensation for the services provided by the property manager, each series will be charged a property management fee equal to fifteen percent (15%) of all rents and fees as remitted to the series on a monthly basis and paid to the property manager pursuant to the property management agreement. Such property management fee will increase to twenty percent (20%) of all rents and fees immediately following the time at which the net operating income of the series in a calendar year exceeds nine percent (9%) of the sum of the purchase price of the series property, the related furniture, fixtures and equipment and any setup costs for such series, each as disclosed below under “Use of Proceeds to the Issuer” for such series.

Alpha Geek Capital 2 LLC

As compensation for the services provided by the property manager, each series will be charged a property management fee equal to twenty percent (20%) of all rents and fees as remitted to the series on a monthly basis and paid to the property manager pursuant to the property management agreement.

AvantStay, Inc.

As compensation for the services provided by the property manager, each series will be charged a property management fee equal to twenty percent (20%) of all rents and fees as remitted to the series on a monthly basis and paid to the property manager pursuant to the property management agreement.

Arrived Property Manager, LLC

As compensation for the services provided by the affiliated property manager, each series will be charged a property management fee equal to twenty percent (20%) of all rents and fees as remitted to the series on a monthly basis and paid to the property manager pursuant to the property management agreement.

The property manager for each Series is specified in the latest Offering Circular under “The Series Properties Being Offered”.

Furniture, Fixture and Equipment

In addition to the Management Fee, the Series shall pay property manager a one-time fee equal to twenty percent (20%) of out-of-pocket costs for furniture, fixture and equipment (“FF&E Fee”). The Series shall pay property manager the FF&E Fee upon the purchase of such furniture, fixture and equipment.

Property Disposition Fee

Upon the disposition and sale of the Series’ property, the Manager will charge the Series a market rate property disposition fee that will cover property sale expenses such as brokerage commissions, and title, escrow and closing costs. It is expected that the disposition fee charged to the Series will range from six to seven percent of the property sale price. To the extent that the actual property disposition fees are less than the amount charged to the Series, the Manager will receive the difference.

Prepaid and Accrued Expenses

Prepaid expenses consist of prepaid insurance. Accrued expenses include accrued property taxes, aum fees, and interest payable on the Series’ mortgage.

F-44

Due From (To) Third-party Property Managers

Due from (to) third-party property managers are uncollateralized obligations due under normal trade terms generally requiring payment within 30 days from the approved prior month financial statements. Due from (to) property managers are presented net of receipts and expenses for the reported month. The Company uses a loss-rate approach based on historical loss information, adjusted for management’s expectations about current and future economic conditions, as the basis to determine expected cash receipts and distributions. Management exercises significant judgment in determining expected credit losses. Key inputs include macroeconomic factors, industry trends, and the creditworthiness of counterparties. Management believes that the composition of receivables at year-end is consistent with historical conditions as credit terms and practices and the property managers have not changed significantly. The Company and Series determined it was not necessary to record an allowance for credit losses as of December 31, 2023.

In September 2023, the Series terminated the property management contract with Roseus Hospitality Group (“Roseus”) and believes the receivables from Roseus were no longer recoverable. As a result of this determination, as of December 31, 2023, the Series wrote off $182,140 of receivables to credit loss expense, which is reflected as a separate line item on the consolidated and consolidating statement of comprehensive income (loss). The Manager has committed to make each affected Series whole by providing capital contributions to each Series in the amount of the credit loss incurred. As of December 31, 2023, the Manager relieved $124,373 of amounts due the Manager from certain Series which was recorded by the Series as a capital contribution and a reduction in due to related party. Additionally, the Manager contributed the remaining balance of $57,767 from May 2024, which consists of $23,130 to Arrived Series Billngswood, $6,207 to Arrived Series Coolbaugh, $22,235 to Arrived Series Hammock, $1,428 to and Arrived Series Myrtle. The Manager will retain the right to collect the receivables from Roseus Hospitality Group if such receivables are repaid to the Series.

Property and Equipment

Property and equipment are stated at cost less accumulated depreciation. The Serie’s property and equipment includes the cost of the purchased property, including the building and related land. The Company allocates certain capitalized title fees and relevant acquisition expenses to the capitalized costs of the building. All capitalized property costs, except for the value attributable to the land, are depreciated using the straight-line method over the estimated useful life of 27.5 years. Additions and property improvements in excess of $5,000 are capitalized and depreciated using the straight-line method over the estimated useful lives of 5-7 years, while routine repairs and maintenance are charged to expense as incurred. At the time of retirement or other disposition of property and equipment, the cost and accumulated depreciation are removed from the accounts and any resulting gain or loss is reflected in the consolidated statement of comprehensive income.

Impairment of Long-Lived Assets

The Company continually monitors events and changes in circumstances that could indicate the carrying amounts of long-lived assets may not be recoverable. When such events or changes in circumstances are present, the Company assesses the recoverability of long-lived assets by determining whether the carrying value of such assets will be recovered through undiscounted expected future cash flows. If the total of the future cash flows is less than the carrying amount of those assets, the Company recognizes an impairment loss based on the excess of the carrying amount over the fair value of the assets. Assets to be disposed of are reported at the lower of the carrying amount or the fair value less costs to sell. The Series did not record any impairment losses on long-lived assets for the six months ended June 30, 2024.

F-45

Operating Expenses

The Series is responsible for the costs and expenses attributable to the activities of the Series. The Manager will bear its own expenses of an ordinary nature. If the operating expenses exceed the amount of revenues generated from a Series property and cannot be covered by any operating expense reserves on the balance sheet of the Series, the Manager may (a) pay such operating expenses and not seek reimbursement, in which case the expenses would be recognized by the Series with a credit to contributed capital. (b) loan the amount of the operating expenses to the Series, on which the Manager and its affiliates may impose a reasonable rate of interest and be entitled to reimbursement of such amount from future revenues generated by Series’ property, and/or (c) cause additional interests to be issued in the Series in order to cover such additional amounts. 

Revenue Recognition

The Company adopted FASB ASC 606, Revenue from Contracts with Customers, and its related amendments, effective at inception using the modified retrospective transition approach applied to all contracts. There were no cumulative impacts that were made. The Company determines revenue recognition through the following steps:

● Identification of a contract with a customer;

● Identification of the performance obligations in the contract;

● Determination of the transaction price;

● Allocation of the transaction price to the performance obligations in the contract; and

● Recognition of revenue when or as the performance obligations are satisfied.

Revenue is recognized when control of the promised goods or services is transferred to customers, in an amount that reflects the consideration the Company expects to be entitled to in exchange for those goods or services. As a practical expedient, the Company does not adjust the transaction price for the effects of a significant financing component if, at contract inception, the period between customer payment and the transfer of goods or services is expected to be one year or less.

The Company recognizes rental revenue on a monthly basis when earned.

Comprehensive Income (loss)

The Company follows FASB ASC 220 in reporting comprehensive income (loss). Comprehensive income (loss) is a more inclusive financial reporting methodology that includes disclosure of certain financial information that historically has not been recognized in the calculation of net income (loss). Since the Company has no items of other comprehensive income (loss), comprehensive loss is equal to net loss.

Organizational Costs

In accordance with FASB ASC 720, Organizational Costs, accounting fees, legal fees, and costs of incorporation are expensed as incurred.

Income Taxes

The Company follows FASB ASC 740 when accounting for income taxes, which requires an asset and liability approach to financial accounting and reporting for income taxes. Deferred income tax assets and liabilities are computed annually for temporary differences between the financial statements and tax bases of assets and liabilities that will result in taxable or deductible amounts in the future based on enacted tax laws and rates applicable to the periods in which the differences are expected to affect taxable income.  Valuation allowances are established when necessary to reduce deferred tax assets to the amount expected to be realized.  Income tax expense is the tax payable or refundable for the period plus or minus the change during the period in deferred tax assets and liabilities. 

F-46

The Series have elected and qualify to be taxed as a C corporation.

Each Series is organized as an LLC for legal purposes and makes a subsequent election with the IRS to be treated as a C corporation for tax purposes. C corporations pay income tax at both the federal and state level. At the Federal level the tax rate is 21%. At the state level income taxes will be based on the tax table for that state. C corporations cannot allocate tax losses directly to shareholders, but under current law, federal losses may be accumulated and carried forward indefinitely and be used to offset up to 80% of taxable income in any future year, thereby reducing the reported taxable income.

Recently Issued and Recently Adopted Accounting Pronouncements

In February 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2016-02, Leases (Topic 842). This ASU requires a lessee to recognize a right-of-use asset and a lease liability under most operating leases in its balance sheet. The ASU is effective for annual and interim periods beginning after December 15, 2021. Early adoption is permitted. The Company adopted the updates effective July 11, 2022 (date of inception) and the adoption of the standard had no effect on the consolidated and consolidating financial statements.

In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers (Topic 606) and has issued subsequent amendments to this guidance. This new standard will replace all current guidance on this topic and eliminate all industry-specific guidance. The new revenue recognition standard provides a unified model to determine when and how revenue is recognized. The core principle is that a company should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration for which the entity expects to be entitled in exchange for those goods or services. The guidance is effective for interim and annual periods beginning after December 31, 2018. The standard may be applied either retrospectively to each period presented or as a cumulative-effect adjustment as of the date of adoption. The Company adopted this standard upon inception, and it did not have a material impact on their consolidated and consolidating financial statements.

In June 2016, the FASB issued Accounting Standards Update (ASU) No. 2016-13, Financial Instruments – Credit Losses (Topic 326), Measurement of Credit Losses on Financial Instruments, as modified by FASB ASU No. 2019-10 and other subsequently issued related ASUs. The amendments in this Update affect loans, debt securities, trade receivables, and any other financial assets that have the contractual right to receive cash. The ASU requires an entity to recognize expected credit losses rather than incurred losses for financial assets. The amendments in this Update are effective for fiscal years beginning after December 15, 2022, including interim periods within those fiscal years. The Company adopted this new guidance effective July 11, 2022 (date of inception) utilizing the modified retrospective transition method. The adoption of this standard did not have a material impact on the Company’s consolidated and consolidating financial statements but did change how the allowance for credit losses is determined.

Management does not believe that any other recently issued, but not yet effective, accounting standards could have a material effect on the accompanying consolidated financial statements. As new accounting pronouncements are issued, the Company will adopt those that are applicable under the circumstances.

NOTE 3: GOING CONCERN

The accompanying consolidated and consolidating financial statements have been prepared on a going concern basis, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business. The Company has a lack of liquidity, nominal cash, and has limited operations since inception. These factors, among others, raise substantial doubt about the ability of the Company to continue as a going concern for a reasonable period of time. The Company’s ability to continue as a going concern in the next twelve months from the filing of this Semi-Annual Report is dependent upon their ability to continue to generate cash flow from their rental properties and/or obtain financing from the Manager. However, there are assurances that the Company can continue to generate cash flow from their rental properties or that the Manager will always be in the position to provide funding when needed. The consolidated and consolidating financial statements do not include any adjustments relating to the recoverability and classification of recorded asset amounts or the amounts and classification of liabilities that might be necessary should the Company be unable to continue as a going concern.

F-47

NOTE 4: PROPERTY AND EQUIPMENT

Property and equipment, net consists of the following:

June 30, 2024

Series	Building		Land		Property Improvements and Furniture, Fixture & Equipment		Total		Less: Accumulated Depreciation			Property and equipment, net
Ace	$	784,055	$	262,500	$	72,244	$	1,118,799	$	(66,662	)	$	1,052,136
Billingswood		580,572		193,524		175,045		949,141		(47,121	)		902,020
Cactus		786,585		262,125		64,590		1,113,300		(65,498	)		1,047,802
Cardinal		558,670		186,000		111,239		855,909		(66,355	)		789,554
Coolbaugh		316,854		105,618		127,756		550,228		(39,236	)		510,992
Hammock		408,491		135,000		50,840		594,331		(41,767	)		552,564
Havasu		787,910		262,500		73,443		1,123,853		(63,042	)		1,060,811
Hickorybear		542,965		180,988		75,189		799,143		(39,554	)		759,589
Kinlani		563,096		187,699		69,134		819,929		(41,389	)		778,540
Koi		506,779		168,926		221,186		896,892		(49,879	)		847,013
Lakeridge		427,248		141,250		62,470		630,968		(40,522	)		590,446
Lodge		776,434		257,500		129,892		1,163,826		(72,596	)		1,091,230
Longbranch		607,063		202,354		101,524		910,941		(46,249	)		864,692
Loop		491,284		163,761		101,804		756,849		(38,676	)		718,173
Mirage		474,155		157,250		17,235		648,640		(33,165	)		615,475
Myrtle		304,778		101,250		84,351		490,379		(32,571	)		457,808
Oasis		735,013		245,004		71,498		1,051,515		(70,716	)		980,798
Opry		827,688		275,896		7,232		1,110,817		(41,818	)		1,068,999
Orchard		415,974		137,500		91,267		644,741		(55,737	)		589,004
Palm		467,428		156,250		81,753		705,432		(46,644	)		658,787
Pasquin		343,350		114,450		117,008		574,808		(38,675	)		536,133
Pickler		811,789		270,596		147,682		1,230,067		(58,926	)		1,171,141
Pointbreak		285,408		93,750		69,277		448,435		(34,185	)		414,250
Regal		718,253		237,500		58,793		1,014,546		(46,280	)		968,266
Serenity		806,520		273,750		118,291		1,198,561		(80,972	)		1,117,589
Smokey		551,134		183,711		74,777		809,622		(37,913	)		771,709
Solstice		543,583		181,194		92,045		816,822		(30,763	)		786,059
Sugarcreek		317,894		105,000		58,281		481,174		(30,626	)		450,548
SuiteSpot		670,968		223,656		102,519		997,143		(41,579	)		955,564
	$	16,411,939	$	5,466,504	$	2,628,364	$	24,506,808	$	(1,399,117	)	$	23,107,692

F-48

June 30, 2023

Series Name	Building		Land		Property Improvements and Furniture, Fixture & Equipment		Total		Less: Accumulated Depreciation			Property and equipment, net
Ace		784055	$	262,500	$	72,244	$	1,118,799	$	(31,664	)	$	1,087,135
Billingswood		580572		193,524		127,500		901,596		(1,759	)		899,837
Cactus		786585		262,125		42,997		1,091,707		(25,416	)		1,066,290
Cardinal		558670		186,000		104,500		849,170		(13,544	)		835,627
Coolbaugh		316854		105,618		129,756		552,228		(1,920	)		550,307
Hammock		408490.5		135,000		50,840		594,331		(16,744	)		577,586
Havasu		787910		262,500		67,343		1,117,753		(19,849	)		1,097,904
Hickorybear		542964.83		180,988		66,930		790,883		(4,936	)		785,947
Kinlani		563096.25		187,699		62,384		813,179		(7,199	)		805,980
Koi		506779.31		168,926		166,840		842,546		(8,633	)		833,913
Lakeridge		427247.5		141,250		60,737		629,234		(9,611	)		619,623
Lodge		776434		257,500		129,892		1,163,826		(22,218	)		1,141,608
Longbranch		607062.83		202,354		92,166		901,583		(4,049	)		897,534
Loop		491283.75		163,761		68,693		723,738		(1,489	)		722,249
Mirage		463671.67		157,250		17,235		638,157		(11,241	)		626,916
Myrtle		304777.5		101,250		89,363		495,391		(4,618	)		490,773
Oasis		735012.62		245,004		71,498		1,051,515		(29,689	)		1,021,825
Opry		827688.38		275,896		7,232		1,110,817		(10,274	)		1,100,543
Orchard		415974		137,500		80,382		633,856		(23,083	)		610,773
Palm		467428.1		156,250		74,477		698,156		(13,999	)		684,156
Pasquin		343350.19		114,450		97,008		554,808		(3,121	)		551,687
Pickler		811788.75		270,596		111,420		1,193,805		(2,460	)		1,191,345
Pointbreak		285408		93,750		52,786		431,944		(12,720	)		419,225
Regal		718253		237,500		-		955,753		(10,883	)		944,870
Serenity		806520		273,750		118,291		1,198,561		(24,788	)		1,173,772
Smokey		551134.16		183,711		74,777		809,622		(1,670	)		807,952
Sugarcreek		317893.5		105,000		44,234		467,127		(8,347	)		458,781
SuiteSpot		670968.45		223,656		13,312		907,936		-			907,936
	$	15,857,873	$	5,285,310	$	2,094,835	$	23,238,018	$	(325,924	)	$	22,912,094

Depreciation expense was $557,947 and $276,540 for the six months ended June 30, 2024 and 2023, respectively.

F-49

NOTE 5: MORTGAGE PAYABLE, NET

The following is a summary of the mortgages by each Series during the six months ended June 30, 2024 and 2023:

June 30, 2024

Series	Lender	Address	Mortgage Principal		Cash/Financing	Term (years)	Interest Only Period (years)		Interest Rate
Ace	Certain Lending	14249 N. 49th Street, Scottsdale, AZ 85254	$	441,000	Term	30		7		6.625	%
Cactus	Arrived Holding	5108 E Janice Way, Scottsdale, AZ 85254		440,370	Term	30		5		6.625	%
Cardinal	Certain Lending	6085 North 85th Avenue, Glendale, AZ 85305		312,480	Term	30		7		6.625	%
Hammock	Private Lender	10736 Frances Lane, Largo, FL 33774		226,800	Term	30		5		6.625	%
Havasu	Certain Lending	520 Jones Drive, Havasu City, AZ 86406		472,500	Term	30		5		5.950	%
Lakeridge	Arrived Short Term Notes, LLC	105 Lake Ridge Drive, Blue Ridge, GA 30513		282,500	Term	30		5		5.950	%
Oasis	Certain Lending	964 Youngs Lane, Nashville, TN 37207		487,500	Term	30		7		6.625	%
Opry	Arrived Holding	3226 Charlotte Avenue, Nashville, TN 37209		462,000	Term	30		5		6.625	%
Palm	Arrived Holding	2299 Kentucky Street, West Palm Beach, FL 33406		312,500	Term	30		5		5.950	%
Pointbreak	Certain Lending	6410 Sunset Avenue #A & #B, Panama City, FL 32408		157,500	Term	30		7		6.625	%
Regal	Arrived Short Term Notes, LLC	2635 King Hollow Road, Sevierville, TN 37876		475,000	Term	30		5		6.990	%
Serenity	Arrived Short Term Notes, LLC	32 San Patricio Dr, Sedona, AZ 86336		492,750	Term	30		5		5.950	%
Sugarcreek	Arrived Holding	555 Sugar Creek Road, Blue Ridge, GA 30513		210,000	Term	30		5		5.950	%
		Subtotal	$	4,772,900

June 30, 2023

Series	Lender	Address	Mortgage Principal		Financing Strategy	Term	Interest Only Period		Interest Rate
Ace	Certain Lending	14249 N. 49th Street, Scottsdale, AZ 85254	$	441,000	Term	30		7		6.625	%
Cactus	Arrived Holdings	101 Coolbaugh Road, East Stroudsburg, PA 18302		440,370	Term	30		5		0.06625
Cardinal	Certain Lending	520 Jones Drive, Havasu City, AZ 86406		312,480	Term	30		7		0.06625
Hammock	Private Lender	105 Lake Ridge Drive, Blue Ridge, GA 30513		226,800	Term	30		5		0.06625
Havasu	Certain Lending	2105 Pine Hills Road, Broken Bow, OK 74728		472,500	Term	30		5		0.0595
Lakeridge	Arrived Holdings	105 Lake Ridge Drive, Blue Ridge, GA 30513		282,500	Term	30		5		0.0595
Oasis	Term	964 Youngs Lane, Nashville, TN 37207		487,500	Term	30		7		0.06625
Opry	Arrived Holdings	3226 Charlotte Avenue, Nashville, TN 37209		462,000	Term	30		5		0.06625
Palm	Arrived Holdings	2299 Kentucky Street, West Palm Beach, FL 33406		312,500	Term	30		5		0.0595
Pointbreak	Certain Lending	6410 Sunset Avenue #A & #B, Panama City, FL 32408		157,500	Cash			7
Regal	Arrived Holdings	2635 King Hollow Road, Sevierville, TN 37876		475,000	Term	30		5		0.0699
Serenity	Arrived Holdings	32 San Patricio Dr, Sedona, AZ 86336		492,750	Term	30		5		0.0595
Sugarcreek	Arrived Holdings	555 Sugar Creek Road, Blue Ridge, GA 30513		210,000	Term	30		5		0.0595
SuiteSpot	Cash no Lender	8133 E Osborn Road, Scottsdale, AZ 85251		630,000	Cash
			$	5,402,900

F-50

The mortgages are secured by each Series’ property. As of June 30, 2024 and 2023 the entire principal of the mortgage loans remained outstanding, with maturities dates in excess of one year and thus reflected as non-current liabilities on the consolidated and consolidating balance sheets.

Loan fees incurred in connection with the mortgages were capitalized as a debt discount and are being amortized to interest expenses over the life of the loan. During the six months ended June 30, 2024, the Company recorded amortization of loan fees of $9,318. As of June 30, 2024 and 2023 mortgage payable, net of unamortized loan fees of $115,983 and $122,283 was $ 4,685,707 and $5,291,303.

NOTE 6: MEMBERS EQUITY (DEFICIT)

Each Series is managed by Arrived Holdings, Inc., a Delaware corporation and managing member of the Company (the “Manager”). Pursuant to the terms of the operating agreement, the Manager will provide certain management and advisory services, as well as management team and appropriate support personnel to the Series.

The Manager will be responsible for directing the management of Series’ business and affairs, managing the day-to-day affairs, and implementing the Series’ investment strategy. The Manager has a unilateral ability to amend the operating agreement and the allocation policy in certain circumstances without the consent of the investors. The investors only have limited voting rights with respect to the Series.

The Manager has sole discretion in determining what distributions, if any, are made to interest holders except as otherwise limited by law or the operating agreement. The Series expects the Manager to make distributions on a quarterly basis. However, the Manager may change the timing of distributions or determine that no distributions shall be made, in its sole discretion.

Membership Interests

During the six months ended June 30, 2024 and 2023, the Series closed on its public offerings for net proceeds of $23,005,621 and $20,470,830, respectively. The following table includes a summary of the public offerings by each Series.

June 30, 2024
Series Name	# of Units Issued		Net cumulative proceeds from the issuance of membership units		Net cumulative issuance expense (1%)		Net cumulative offering expense (2%)
Ace		89,153	$	784,409	$	8,840	$	19,592
Billingswood		111,979		1,023,124		11,204		22,412
Cactus		89,292		788,665		8,856		17,910
Cardinal		66,233		584,862		6,588		14,544
Coolbaugh		71,169		652,031		7,133		14,266
Hammock		61,432		550,153		6,083		13,182
Havasu		91,863		808,653		9,096		19,459
Hickorybear		100,231		914,783		10,049		20,098
Kinlani		98,397		897,092		9,843		19,685
Koi		102,740		940,013		10,277		20,568
Lakeridge		49,033		430,640		4,855		10,396
Lodge		142,658		1,300,796		14,291		28,583
Longbranch		112,529		1,028,011		11,263		22,526
Loop		90,947		831,486		9,105		18,219
Mirage		84,072		767,930		8,379		16,927
Myrtle		64,479		591,073		6,449		12,898
Oasis		73,115		634,493		7,263		16,281
Opry		92,908		819,606		9,298		18,596
Orchard		82,840		759,508		8,243		16,656
Palm		63,289		560,874		6,271		13,312
Pasquin		73,156		668,358		7,327		14,705
Pickler		149,859		1,367,911		14,995		29,994
Pointbreak		44,682		399,520		4,441		9,624
Regal		80,438		700,745		8,048		17,087
Serenity		102,224		904,936		10,126		21,586
Smokey		98,275		896,632		9,831		19,678
Solstice		102,874		939,388		10,287		20,575
Sugarcreek		37,016		325,648		3,676		7,859
SuiteSpot		124,251		1,134,282		12,426		24,832
Subtotal		2,551,132	$	23,005,621	$	254,541	$	522,050

F-51

June 30, 2023
Series	# of Units Issued		Net cumulative proceeds from the issuance of membership units		Net cumulative issuance expense (1%)		Net cumulative offering expense (2%)
Ace		78,461	$	784,609	$	8,840	$	19,592
Billingswood		63,792		637,921		7,307		22,412
Cactus		78,986		789,865		8,856		17,910
Cardinal		58,681		586,812		6,588		14,544
Coolbaugh		65,363		653,631		7,133		14,266
Hammock		55,025		550,253		6,083		13,182
Havasu		80,865		808,653		9,096		19,459
Hickorybear		91,628		916,283		10,049		20,098
Kinlani		89,739		897,392		9,843		19,685
Koi		94,051		940,513		10,277		20,568
Lakeridge		43,064		430,640		4,855		10,396
Lodge		130,335		1,303,346		14,291		28,583
Longbranch		102,901		1,029,011		11,263		22,526
Loop		83,249		832,486		9,105		18,219
Mirage		76,838		768,380		8,379		16,927
Myrtle		59,107		591,073		6,449		12,898
Oasis		63,479		634,793		7,263		16,281
Opry		82,031		820,306		9,298		18,596
Orchard		76,101		761,008		8,243		16,656
Palm		56,132		561,324		6,271		13,312
Pasquin		66,946		669,458		7,327		14,705
Pickler		136,881		1,368,811		14,995		29,994
Pointbreak		40,027		400,270		4,441		9,624
Regal		70,105		701,045		8,048		17,087
Serenity		90,544		905,436		10,126		21,586
Smokey		80,076		800,763		8,859		19,678
Sugarcreek		32,675		326,748		3,676		7,859
SuiteSpot		-		-		-		-
Subtotal		2,047,083	$	20,470,830	$	226,959	$	476,643

F-52

In connection with the public offering, each Series incurred brokerage fees of 1% of gross proceeds, which is paid directly to the broker as a deduction from gross proceeds. For the six months ended June 30, 2024 and 2023, in accordance with the operating agreement, the Manager receives reimbursements for out-of-pocket expenses, up to 2% of gross proceeds from membership interest issuance which amounted to $522,050 and $215,924, reimbursements for sourcing fees, also per the agreement, can reach up to 5% of the purchase price which amounted to $1,094,310 and $539,360; reimbursements for financing and holding expenses up to 4.5% of the purchase price which amounted to $634,800 and $370,840.

Distributions

For the period ended June 30, 2024 and June 30, 2023, the following tables reflects the distribution by Series respectively, made distributions to the investors of the respective Series totaling $456,352 and $387,040, respectively, which were recorded as reductions to members’ capital.

Series	June 30, 2024		June 30, 2023
Ace	$	23,003	$	26,797
Billingswood		14,106		-
Cactus		23,067		30,438
Cardinal		17,079		33,905
Coolbaugh		9,825		8,559
Hammock		6,267		14,764
Havasu		12,310		20,223
Hickorybear		21,255		12,052
Kinlani		23,621		11,811
Koi		10,476		13,363
Lakeridge		5,001		11,775
Lodge		31,676		15,720
Longbranch		23,852		13,515
Loop		12,556		10,926
Mirage		10,089		13,474
Myrtle		10,704		6,448
Oasis		14,186		13,951
Opry		15,619		13,023
Orchard		8,455		19,929
Palm		6,459		11,411
Pasquin		10,096		10,257
Pickler		29,669		17,994
Pointbreak		4,562		8,061
Regal		14,001		16,095
Serenity		27,820		26,606
Smokey		13,565		-
Solstice		19,957		-
Sugarcreek		3,776		5,944
SuiteSpot		33,302		-
	$	456,352	$	387,040

NOTE 7: RELATED PARTY TRANSACTIONS

The Series’ Manager, Arrived Holdings, Inc., is a managing member with common management of the Series.

Due from (to) Related Party

The Series enters into various transactions with the Manager and affiliates of the Manager in the normal course of operating and financing activities. As of June 30, 2024, certain Series owed an aggregate of $773,838, including the initial funding for the certain properties’ purchases and operational activities. As of June 30, 2024 certain Series were owed an aggregate of $1,761 from the Manager.

Deemed Contributions

For the six months ended June 30, 2024 and 2023, certain Series received deemed contributions from the Manager totaling $53,000 and $11,105, respectively, in exchange for forgiveness of amounts previously due.

F-53

Management Compensation

The following tables reflect the total management compensation paid by each Series for the six months ended June 30, 2024 and 2023:

June 30, 2024

Series	Sourcing fees		Financing and holding expenses		Offering expenses		Asset management fee		Reimbursements of acquisition expenses		Property management fee, related party
Ace	$	52,500	$	26,190	$	19,592	$	3,440	$	-	$	-
Billingswood		38,750		24,300		22,412		541		-		-
Cactus		52,420		25,070		17,910		3,581		-		-
Cardinal		37,200		19,140		14,544		4,316		-		-
Coolbaugh		21,000		17,260		14,266		1,224		-		-
Hammock		27,000		17,900		13,182		1,367		-		-
Havasu		52,500		28,920		19,459		978		-		-
Hickorybear		36,000		21,380		20,098		1,156		-		-
Kinlani		37,500		19,850		19,685		2,174		-		-
Koi		33,750		22,790		20,568		3,357		-		-
Lakeridge		28,250		16,190		10,396		955		-		-
Lodge		51,500		31,410		28,583		2,545		-		-
Longbranch		40,250		23,240		22,526		1,700		-		-
Loop		32,500		18,160		18,219		931		-		3,725
Mirage		31,490		15,990		16,927		1,415		-		-
Myrtle		20,250		14,120		12,898		1,522		-		6,066
Oasis		48,750		24,360		16,281		1,647		-		-
Opry		55,000		26,580		18,596		1,128		-		-
Orchard		27,500		16,490		16,656		669		-		-
Palm		31,250		21,180		13,312		2,058		-		-
Pasquin		22,500		18,670		14,705		1,050		-		-
Pickler		55,000		30,690		29,994		4,857		-		-
Pointbreak		19,750		13,480		9,624		1,875		-		7,079
Regal		47,500		31,000		17,087		1,275		-		1,275
Serenity		54,750		30,840		21,586		2,577		-		-
Smokey		37,250		19,360		19,678		1,084		-		4,336
Solstice		36,200		22,290		20,575		919		-		-
Sugarcreek		21,000		11,980		7,859		478		-		-
SuiteSpot		45,000		25,970		24,832		3,996		-		15,982
Subtotal	$	1,094,310	$	634,800	$	522,050	$	54,811	$	-	$	38,463

F-54

June 30, 2023

Series	Sourcing fees		Financing and holding expenses		Offering expenses		Asset management fee		Reimbursements of acquisition expenses		Property management fee, related party
Ace	$	52,500	$	26,190	$	19,592	$	693	$	-	$	-
Cactus		52,420		25,070		17,910		304		-		-
Cardinal		37,200		19,140		14,544		737		-		-
Hammock		27,000		17,900		13,182		535		-		-
Havasu		52,500		28,920		19,459		315		-		-
Lakeridge		28,250		16,190		10,396		155		-		-
Lodge		-		31,410		-		-		-		-
Mirage		31,490		15,990		16,927		945		-		-
Myrtle		-		14,120		-		-		-		-
Oasis		48,750		24,360		16,281		848		-		-
Orchard		27,500		16,490		16,656		825		-		-
Opry		55,000		26,580		18,596		-		-		-
Palm		31,250		21,180		13,312		172		-		-
Pointbreak		19,750		13,480		9,624		391		-		-
Regal		-		31,000		-		261		-		-
Serenity		54,750		30,840		21,586		329		-		-
Sugarcreek		21,000		11,980		7,859		116		-		-
Subtotal	$	539,360	$	370,840	$	215,924	$	6,625	$	-	$	-

NOTE 8: SUBSEQUENT EVENTS

In reference to the Due From (To) Third-Party Property Managers note above, the Manager contributed the remaining balance of $4,767 to Arrived Series Palm in July 2024.

Following June 30, 2024, the following Series’ mortgages were transferred from Arrived Holdings, Inc. to Arrived Short Term Notes, LLC, an affiliate of the Manager and Arrived Holdings, Inc. No changes to the terms and conditions of such mortgages were made as a result of the transfers and the transfers have no impact on the Series’ obligations under the original loan agreement.

Arrived Series Opry, initially held by Arrived Holdings, Inc., with a loan amount of $145,000 and an interest rate of 5.950%.

Arrived Series Sugarcreek, initially held by Arrived Holdings, Inc., with a loan amount of $107,500 and an interest rate of 6.625%.

Arrived Series Havasu, initially held by Arrived Holdings, Inc., with a loan amount of $157,500 and an interest rate of 6.625%.

Arrived Series Palm, initially held by Arrived Holdings, Inc., with a loan amount of $157,500 and an interest rate of 6.625%.

Following June 30, 2024, the mortgage for Arrived Series Hammock, originally held by a private lender, was acquired by Arrived Short Term Notes, LLC, with a loan amount of $226,800 and an interest rate of 6.625%. No changes to the terms or conditions of the loan were made, and the purchase does not impact the Series’ obligations under the original loan agreement.

F-55

ITEM 4. EXHIBITS

Exhibit No.	Description
2.1*	Certificate of Formation of Arrived STR, LLC
2.2*	Limited Liability Company Agreement of Arrived STR, LLC
3.1*	Form of Series Designation of Arrived Series [*], a series of Arrived STR, LLC
4.1*	Form of Subscription Agreement of Arrived Series [*], a series of Arrived STR, LLC
6.1*	Broker Dealer Agreement, dated July 26, 2022, between Arrived STR, LLC and Dalmore Group, LLC
6.2*	Transfer Agency and Registrar Services Agreement, dated July 27, 2022, between Arrived STR, LLC and Colonial Stock Transfer Company, Inc.
6.3*	Form of Promissory Note
6.4*	Form of Property Management Agreement, dated [*], 202[*], between Misfit Homes LLC and Arrived Series [*], a series of Arrived STR, LLC
6.5*	Software and Services License Agreement, dated [*], 202[*], by and between North Capital Investment Technology, Inc. and Arrived Holdings, Inc.
6.6*	Purchase and Sale Agreement dated July 19, 2022 between Arrived Holdings, Inc./Assignee and Seller for Arrived Series Oasis property
6.6.1*	Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Oasis dated July 25, 2022 for Arrived Series Oasis property
6.7*	Purchase and Sale Agreement dated August 17, 2022 between Arrived Holdings, Inc./Assignee and Seller for Arrived Series Ace property
6.7.1*	Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Ace dated August 26, 2022 for Arrived Series Ace property
6.7.2*	Counteroffer to Offer dated August 18, 2022 between Arrived Holdings, Inc./Assignee and Seller for Series Ace Property
6.7.3*	Addendum to Purchase and Sale Agreement dated August 23, 2022 between Arrived Holdings, Inc./Assignee and Seller for Series Ace Property
6.8*	Purchase and Sale Agreement dated August 15, 2022 between Arrived Holdings, Inc./Assignee and Seller for Arrived Series Cardinal property
6.8.1*	Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Cardinal dated August 26, 2022 for Arrived Series Cardinal property
6.9*	Purchase and Sale Agreement dated August 23, 2022 between Arrived Holdings, Inc./Assignee and Seller for Arrived Series Hammock property
6.9.1*	Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Hammock dated August 30, 2022 for Arrived Series Hammock property
6.10*	Purchase and Sale Agreement dated August 10, 2022 between Arrived Holdings, Inc./Assignee and Seller for Arrived Series Mirage property
6.10.1*	Counteroffer to Offer dated August 15, 2022 between Arrived Holdings, Inc./Assignee and Seller for Series Mirage Property
6.11*	Purchase and Sale Agreement dated August 23, 2022 between Arrived Holdings, Inc./Assignee and Seller for Arrived Series Orchard property
6.11.1*	Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Orchard dated August 26, 2022 for Arrived Series Orchard property
6.11.2*	Addendum to Purchase and Sale Agreement dated August 23, 2022 between Arrived Holdings, Inc./Assignee and Seller for Series Orchard Property
6.12*	Purchase and Sale Agreement dated August 11, 2022 between Arrived Holdings, Inc./Assignee and Seller for Arrived Series Pointbreak property
6.12.1*	Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Pointbreak dated August 30, 2022 for Arrived Series Pointbreak property
6.12.2*	Addendum to Purchase and Sale Agreement dated September 28, 2022 between Arrived Holdings, Inc./Assignee and Seller for Series Pointbreak Property
6.13*	Form of Property Management Agreement, dated [*], 202[*], between Old Town Rentals LLC and Arrived Series [*], a series of Arrived STR, LLC

7

6.14*	Form of Property Management Agreement, dated [*], 202[*], between Roseus Hospitality Group LLC and Arrived Series [*], a series of Arrived STR, LLC
6.15*	Form of Property Management Agreement, dated [*], 202[*], between Southern Comfort Cabin Rentals, LLC and Arrived Series [*], a series of Arrived STR, LLC
6.16*	Form of Property Management Agreement, dated [*], 202[*], between Alpha Geek Capital 2 LLC and Arrived Series [*], a series of Arrived STR, LLC
6.17*	Purchase and Sale Agreement dated September 9, 2022 between Arrived Holdings, Inc./Assignee and Seller for Arrived Series Cactus property
6.17.1*	Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Cactus dated September 13, 2022 for Arrived Series Cactus property
6.17.2*	Counteroffer to Offer dated September 10, 2022 between Arrived Holdings, Inc./Assignee and Seller for Series Cactus Property
6.18*	Purchase and Sale Agreement dated August 18, 2022 between Arrived Holdings, Inc./Assignee and Seller for Arrived Series Opry property
6.18.1*	Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Opry dated September 19, 2022 for Arrived Series Opry property
6.19*	Purchase and Sale Agreement dated October 4, 2022 between Arrived Holdings, Inc./Assignee and Seller for Arrived Series Lakeridge property
6.19.1*	Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Lakeridge dated October 8, 2022 for Arrived Series Lakeridge property
6.20*	Purchase and Sale Agreement dated October 7, 2022 between Arrived Holdings, Inc./Assignee and Seller for Arrived Series Palm property
6.20.1*	Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Palm dated September 13, 2022 for Arrived Series Palm property
6.20.2*	Addendum to Purchase and Sale Agreement dated September 23, 2022 between Arrived Holdings, Inc./Assignee and Seller for Series Palm Property
6.21*	Purchase and Sale Agreement dated September 9, 2022 between Arrived Holdings, Inc./Assignee and Seller for Arrived Series Serenity property
6.21.1*	Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Serenity dated September 28, 2022 for Arrived Series Serenity property
6.21.2*	Addendum to Purchase and Sale Agreement dated September 24, 2022 between Arrived Holdings, Inc./Assignee and Seller for Series Serenity Property
6.21.3*	Addendum to Purchase and Sale Agreement dated September 24, 2022 between Arrived Holdings, Inc./Assignee and Seller for Series Serenity Property
6.22*	Purchase and Sale Agreement dated October 6, 2022 between Arrived Holdings, Inc./Assignee and Seller for Arrived Series Sugarcreek property
6.22.1*	Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Sugarcreek dated October 8, 2022 for Arrived Series Sugarcreek property
6.23*	Purchase and Sale Agreement dated October 18, 2022 between Arrived Holdings, Inc./Assignee and Seller for Arrived Series Havasu property
6.23.1*	Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Havasu dated October 19, 2022 for Arrived Series Havasu property
6.24*	Form of Property Management Agreement, dated [*], 202[*], between AvantStay, Inc. and Arrived Series [*], a series of Arrived STR, LLC
6.25*	Purchase and Sale Agreement dated November 18, 2022 between Arrived Holdings, Inc./Assignee and Seller for Arrived Series Regal property
6.25.1*	Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Regal dated November 29, 2022 for Arrived Series Regal property
6.26*	Purchase and Sale Agreement dated October 28, 2022 between Arrived Holdings, Inc./Assignee and Seller for Arrived Series Lodge property
6.26.1*	Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Lodge dated November 10, 2022 for Arrived Series Lodge property
6.27*	Form of Property Management Agreement, dated [*], 202[*], between Cabins in Broken Bow and Arrived Series [*], a series of Arrived STR, LLC
6.26*	Purchase and Sale Agreement dated January 14, 2023 between Arrived Holdings, Inc./Assignee and Seller for Arrived Series Hickorybear property
6.26.1*	Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Hickorybear dated January 25, 2023 for Arrived Series Hickorybear property
6.26.2*	Addendum to Purchase and Sale Agreement dated January 12, 2023 between Arrived Holdings, Inc./Assignee and Seller for Series Hickorybear Property
6.27*	Purchase and Sale Agreement dated January 16, 2023 between Arrived Holdings, Inc./Assignee and Seller for Arrived Series Kinlani property
6.27.1*	Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Kinlani dated January 23, 2023 for Arrived Series Kinlani property
6.28*	Purchase and Sale Agreement dated January 20, 2023 between Arrived Holdings, Inc./Assignee and Seller for Arrived Series Myrtle property
6.28.1*	Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Myrtle dated January 20, 2022 for Arrived Series Myrtle property
6.28.2*	Addendum to Purchase and Sale Agreement dated December 3, 2022 between Arrived Holdings, Inc./Assignee and Seller for Series Myrtle Property
6.29*	Purchase and Sale Agreement dated January 11, 2023 between Arrived Holdings, Inc./Assignee and Seller for Arrived Series Pasquin property

8

6.29.1*	Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Pasquin dated January 23, 2023 for Arrived Series Pasquin property
6.29.2*	Addendum to Purchase and Sale Agreement dated January 10, 2023 between Arrived Holdings, Inc./Assignee and Seller for Series Pasquin Property
6.30*	Purchase and Sale Agreement dated January 19, 2023 between Arrived Holdings, Inc./Assignee and Seller for Arrived Series Coolbaugh property
6.30.1*	Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Coolbaugh dated February 3, 2023 for Arrived Series Coolbaugh property
6.31*	Purchase and Sale Agreement dated February 10, 2023 between Arrived Holdings, Inc./Assignee and Seller for Arrived Series Koi property
6.31.1*	Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Koi dated February 22, 2023 for Arrived Series Koi property
6.31.2*	Counteroffer to Offer dated February 15, 2022 between Arrived Holdings, Inc./Assignee and Seller for Series Koi Property
6.32*	Purchase and Sale Agreement dated February 10, 2023 between Arrived Holdings, Inc./Assignee and Seller for Arrived Series Longbranch property
6.32.1*	Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Longbranch dated February 22, 2023 for Arrived Series Longbranch property
6.33*	Purchase and Sale Agreement dated March 4, 2023 between Arrived Holdings, Inc./Assignee and Seller for Arrived Series Loop property
6.33.1*	Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Loop dated March 6, 2023 for Arrived Series Loop property
6.33.2*	Addendum to Purchase and Sale Agreement dated March 5, 2023 between Arrived Holdings, Inc./Assignee and Seller for Series Loop Property
6.33.4*	Counteroffer to Offer dated March 5, 2022 between Arrived Holdings, Inc./Assignee and Seller for Series Loop Property
6.34*	Purchase and Sale Agreement dated March 9, 2023 between Arrived Holdings, Inc./Assignee and Seller for Arrived Series Pickler property
6.34.1*	Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Pickler dated March 16, 2023 for Arrived Series Pickler property
6.35*	Purchase and Sale Agreement dated February 10, 2023 between Arrived Holdings, Inc./Assignee and Seller for Arrived Series Billingswood property
6.35.1*	Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Billingswood dated February 24, 2023 for Arrived Series Billingswood property
6.36*	Purchase and Sale Agreement dated March 3, 2023 between Arrived Holdings, Inc./Assignee and Seller for Arrived Series Smokey property
6.36.1*	Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Smokey dated March 10, 2023 for Arrived Series Smokey property
6.36.2*	Counteroffer to Offer dated March 8, 2022 between Arrived Holdings, Inc./Assignee and Seller for Series Smokey Property
6.37*	Purchase and Sale Agreement dated May 24, 2023 between Arrived Holdings, Inc./Assignee and Seller for Arrived Series Solstice property
6.37.1*	Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Solstice dated May 24, 2023 for Arrived Series Solstice property
6.38*	Purchase and Sale Agreement dated April 30, 2023 between Arrived Holdings, Inc./Assignee and Seller for Arrived Series SuiteSpot property
6.38.1*	Assignment of Contract from Arrived Holdings, Inc. to Arrived Series SuiteSpot dated May 15, 2023 for Arrived Series SuiteSpot property
6.39*	Form of Property Management Agreement, dated [*], 202[*], between Arrived Property Manager, LLC and Arrived Series [*], a series of Arrived STR, LLC
8.1*	Form of Escrow Agreement, dated [*], 202[*], by and among North Capital Private Securities Corporation, Arrived Holdings, Inc. and Arrived Series [*], a series of Arrived STR, LLC

* Previously Filed

9

SIGNATURES

Pursuant to the requirements of Regulation A, the issuer has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

ARRIVED STR, LLC
By:	Arrived Holdings, Inc., its managing member
By:	/s/ Ryan Frazier
	Name:	Ryan Frazier
	Title:	Chief Executive Officer
	Date:	September 30, 2024

Pursuant to the requirements of Regulation A, this report has been signed below by the following persons on behalf of the issuer and in the capacities and on the dates indicated.

SIGNATURE		TITLE	DATE
/s/ Ryan Frazier		Chief Executive Officer of Arrived Holdings, Inc.	September 30, 2024
Ryan Frazier		(principal executive officer) Chief Executive Officer and Director of Arrived STR, LLC
/s/ Sue Korn		Principal Financial and	September 30, 2024
Sue Korn		Accounting Officer of Arrived Holdings, Inc. Principal Financial and Accounting Officer of Arrived STR, LLC
/s/ Kenneth Cason		Chief Technology Officer of Arrived Holdings, Inc.	September 30, 2024
Kenneth Cason		Chief Technology Officer and Director of Arrived STR, LLC
Arrived Holdings, Inc.		Managing Member	September 30, 2024
By:	/s/ Ryan Frazier
Name:	Ryan Frazier
Title:	Chief Executive Officer

10