"Double rental arbitrage"? Is this a thing?

[Bob W.]

Hello friends,

Is there a structure whereby my LLC #1 buys a house and then does a long term rental to my LLC #2 who then does an STR?

I'm thinking both my LLCs will incur paper losses and writeoffs against the income, kind of double dipping in my mind.

Is this a thing?  Why can't I rent from myself?

Thanks in advance,

Bob