Looking for advice on turning my primary home to STR in Austin

[Taylor Null]

Hey y'all,

I'm wrapping up my live-in renovation of a property in South Austin. I would like to keep this property and use it as an STR. However, I would like to move out and purchase another primary residence.

I have read that selling my house to an LLC that I own would be a good move to reduce liability and my personal debt ratio. So I am thinking I'd like to have my company own the property, and I'd purchase another property under my name elsewhere.

I hope this all makes sense. Please let me know if you have advice on this or maybe a local Austin CPA to talk about this with.

Thanks,

Taylor

[Taylor Null]

Y'all make great arguments about taking the tax-free profits from the appreciation. It has appreciated quite substantially and with the work I put into it. I believe it would make a nice profit. However, I am in a part of Austin where I speculate it will increase much more rapidly in the next 10 years than in other parts. So I'd like to stay in the Austin market long-term, but I plan on moving out of state. In addition, I would like to have a property that has perpetual income.

My original plan is to get an STR license for owner-occupied 51% of the year. From what I read these are much easier to obtain. I would live at this property 51% of the year and other times at my out-of-state property.

The refi will ideally put me over the 20% mark for equity and make the margin for renting that much better.