Buying out of country Property to use as Airbnb.
Myself and two other partners are looking at purchasing a property in Cabo to use as an Airbnb. All US citizens, however 1 of the partners lives in Cabo and will be hands on manager living at the property full time. Properties we are looking at have secluded quarters to not interrupt with the rental aspect. My questions are is it best to create an LLC to purchase property? Or S Corp? Can it be deemed as primary residence with only one of the owners living at the property? Will have about 1/3 to half the property in cash and half financed. Any advice on purchasing Airbnb's and purchasing property outside of the country greatly appreciated.