Days primarily working at or on the property are not personal use days.

Since it is my first property, is it best to just do it from my personal or is it best to form an LLC prior? 

@Fillip Nelson When I read investors write they have tight budgets and are completing a BRRRR I automatically assume they have to keep their construction costs below a certain amount  because they are keenly aware of the max valuation and know they won't get their cash out on the refinance unless they keep their costs down.

Start studying personal finances and continue to do so.

It is not affixed to the property, so is personal property.

One thing to also understand is at 380sf you will not be able to get a lender to finance it - so this will impact appreciation in the future - so something like this I do not view as an investment property but a second home property whereas it is not going to bring in cash or have huge appreciation but be something more for your personal use.

Quote from @John Anderson: Hi all,I hold a rental property free and clear in my personal name.

When we start working with new clients, one of the first things we check is how their finances are structured, and more often than not, it’s all jumbled together.We’ve seen property income going into personal checking accounts, expenses paid with the owner’s Amex, and bookkeeping done off a spreadsheet labeled “rental tracker.”

Do we have anyone that has personal experience with a 1031 strategy that is sponsored by an UPREIT?

Quote from @Jacob Bremer: I’m considering lending some money as a personal loan.