But since you’re a California resident — and, as you mentioned before, already had to register your Ohio LLC as a foreign entity in CA because it was managed from there — the same logic would likely apply.

Your CPA is likely concerned about the Personal Use Limitation, which is the biggest threat to the STR tax strategy.If you used the property for personal purposes for the greater of 14 days or 10% of the total days rented during the year, the IRS classifies it as a "residence."

Quote from @Jean Pierre Jabo: my wife and i bought a unit last year in 2024. home is a 4 bd 2 bth, comes with a detached ADU unit thats 1 bed one bath with separate backyard that we currently rent for $1545 longterm. our interest rate is high, 7.1%. our mortage is about 3600 but adding PMI and other costs its total of $4k/month. we both make a combined income of $220k. should we try to move to another primary residence home about $480k and rent out our current main home for about 2300-2400 (fair market pricing for the area). or should we stay in our home and refinance and live there for a year and then move later? 

Just retrofit.My buddy has retrofitted two elementary schools to apartments.  

I'd charge around 6k per resident which is only 400 more than the current average for the area. 

Think we found a forever home, which we would be planning to purchase through 1031 of investment property.Plan would be to rent out the acquired property for a few years, move in, convert to primary residence.

The best advice we got was to use someone from our state of residence to write things up and do the planning. 

Residential assisted living is more like three businesses: the real estate side, the operations (care/staffing), and marketing (sourcing new residents).

Currently my portfolio is a single family residence in Denver CO and I’m planning on using a HELOC against it as a bridge loan for some of the downpayment and renovation costs.I’ve been trying to build some models on Google sheets for deal analysis to assess deal validity and candidly I think it can be done better.  

Quote from @Kenmauri Singleton: Hello everyone I'm looking to get started I'm 20 I'm a electrican I want to buy a fixer upper I can build sweat equity in as my primary residence.