Las Vegas is my niche, as like most visitors, I decided to try something else than losing money at the casinos.

Look at all the so called sophisticated investors who lost their money to Bernie Madoff.You and I are similar in that we can tell when people are masking their true intentions but there is no one on earth that does something without seeking something in return.

Final thought: The 50% more profit from STR vs Long term rentals seems pretty glamorous...it’s like gambling at a casino and hitting 7’s....and then the dealer changes (regulation/inventory)There are over 2M STR listings in the US alone.

As stated, any transfer (create an LLC and sell it subject to existing liens...maybe a trust, but technically a land trust is a pass through entity so its technically still your tax unless you get into more sophisticated stuff. 

But one does need to be Sophisticated, even if you are Accredited, as you should not go there unless you understand how it works.  

We just got the Hard Rock Hotel and Casino contract, and we are one of the largest alternative energy suppliers in the State right now, if not the Country.  

As a result I do see a lot of deal flow from sophisticated investors who look at markets nationally and do great data analytics.

I recall a fellow telling me that most people win in a casino; as I recall he had to borrow rent money after that experiment.  

Barring that, the amount involved could be enough to take him to small claims court.Failing either of those, it’s several important lessons learned (Albeit at an expensive price tag). 1) Get multiple bids. 2) don’t always trust your realtors contractor recommendations (had a guy once bid pre-close and then double the same bid post-close, clearly in cahoots with the realtor) and 3) don’t pay small contractors/handymen before any work is done (more comfortable doing this on large/sophisticated outfits).

Certainly talk to a tax advisor and a sophisticated financial advisor before you take the plunge.