It's very important to know which hours count and which hours don't for the purposes of this test! 

Meanwhile I'm having to add several hundred dollars to my monthly expenses for the purpose of 'principle paydown'.Principle paydown PALES in comparison to appreciation.

Once you know your initial lane, the path gets much clearer and the right teammates show up fast.Glad you’re here, brother — stay consistent and keep your purpose in front of you.

However if the LLC's purpose is asset protection, then the borrower on the mortgage needs to be the LLC.

Disclaimer: This message is for educational and informational purposes only and should not be considered legal, tax, financial, or investment advice.

Yes, as a short-term rental or long-term rental - either would work for the purposes of an investment property loan in the future.

…no part of a Lot or Dwelling shall be used or caused to be used or allowed or authorized in any way, directly or indirectly, for any business, commercial, manufacturing, mercantile, storing, vending, or other such nonresidential purposes…”.A short-term rental is a hotel.  

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."

What matters is whether the property qualifies as a rental activity for tax purposes and whether you’ve done a cost segregation study to break out components with shorter useful lives (like appliances, flooring, and fixtures).

Meanwhile I'm having to add several hundred dollars to my monthly expenses for the purpose of 'principle paydown'.Principle paydown PALES in comparison to appreciation.