Hey Rebecca, I'm a broker and investor up in Sacramento and manage about 100 investment properties (STR and LTR).Many of my clients are high W2 earners seeking "bonus depreciation" to offset tax liability by investing in STR.

It's worth mentioning I also require tenants to have their own renters insurance policy with at least 100k minimum liability.

You'll want to put together a personal financial statement (basically lists of all your assets and liabilities) and have your tax returns ready.

We are being conscious of property tax on a vacant piece of land (our potential liability) as well as the potential capital gains taxes (their potential liability). 

That makes your bookkeeping easier, and it can also provide liability protection if you hold title in an LLC.

Anyone have any advise when it comes to liability/insurance if i have a pool at my airbnb? 

The policy was $2200/year ($1.1M Bldg coverage and $1M Business liability coverage in this apartment LLC) and I haven't had a single claim in my past 5 year history.

Generally yes a HELOC will go off your personal finances so qualifying is generally based on your income, liabilities, and credit. 

The Exchange Accommodation Titleholder ("EAT"), often a sister company to the qualified intermediary, will form a single-member limited liability company and disregarded entity or ("SMLLC") to serve as the lessee.

Such as Accounting fees, home office, business liability insurance, and similar.