Thinking of Purchasing first Airbnb

[George Glessner]

I recently bought a SFH that I have rented out in the city I live in. I was browsing Zillow the other day and came across a pretty cheap cabin that I thought would make for a good Airbnb (there are others in the same community listed with lots of reviews), but it is 3 hours away. I have some questions if I were to move forward with the offer / pursuing a STR.

My SFH rental is in an LLC. I am wondering if purchasing the STR in the LLC would be a good idea or if I should purchase it personally and have LLC manage, or just do everything personally.

I would probably visit the cabin a few times a year and use it personally so that's where I think things would be a little tricky. I would assume even if it isn't in an LLC, the times it is rented out, I could write off things like cleaning and supplies?

Any advice would be greatly appreciated as this would be my first STR.

[John Underwood]

Originally posted by @George Glessner:

@John Underwood it would be a vacation rental but most likely would only list it on Airbnb for time being. Purchase would be cash, so no mortgage to worry about. I have read that if I use it less than 14 days a year and rent for more than 14 days it would be considered a rental. I did reach out to my insurance agent to get quotes on the insurance I would need. 

I get most of my bookings on Vrbo and only a handful on Airbnb.