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Updated almost 6 years ago,
Best way to build a house for short term rental
I am interested in buying a lot in Jefferson County Colorado and building a small home on it. I plan to rent it out occasionally on a short term rental platform. I am curious what the most cost efficient way to do this. I am curious if I could start an LLC or some other entity (not sure which is most advantageous) to buy the property and pay for the construction. I was hoping to do this so I could write off these costs as business expenses if the business entity is for a short term rental? Is this a possibility? Any other ideas would be appreciated! Just looking for the cheapest way to get this done. Thanks!