Far too often, investors pay for tax segregation studies without understanding the implications of depreciation recapture, purchase properties based on unverified assumptions shared by their realtor, accept the loan terms without proposing alternative loan structures that offer the lender equally safe collateral, form entities without understanding their purpose, secure the incorrect or unnecessary insurance, or spend unnecessarily on improvements and inefficient construction practices. 

I do like to recommend both as the best practice and if finances allow it.Note: This information is for educational and informational purposes only and does not constitute legal, tax, financial, or investment advice.

For tax purposes, you're buying two properties.

Again, you may run into transfer limits with some of those other apps which aren't necessarily designed for the purpose of rent collection but the right landlord software can make this seamless for you.

I have already seen people trying to dump their purpose built rentals prior to completion.

Tenant agrees to maintain all furnishings, furniture, décor, and household items in good condition and to use them only for their intended purpose.

I am afraid creating an LLC for the sole purposes of a master lease will only complicate litigation in the event a claim were to arise. 

I view the same as vacation homes, yes they may provide rental income when not there, but you will use them and they will most likely not cash flow so not great for investment purposes but lifestyle choice.

For tax purposes, the IRS considers the average stay across the entire multifamily property, not just the short-term rental unit.

I've helped several BP members acquire properties for the purpose of renting out on a short-term basis in the Joshua Tree area.First thing to know is info on the current regulation landscape.