It’s crucial that your STRs get reported correctly and that documentation is solid in the event of an event.Ideally you would have met with a cpa before doing a cost seg so you know that you’d be able to use the accelerated depreciation. 

Also, would this loan help build my personal credit, or would it only report to business credit bureaus under my LLC?

But I ran some actual reports for clients this week and wanted to share.

I wouldn't recommend setting up an LLC out of state if you are buying in Tennessee unless your tax advisor is looking to help you on strategy.. but from a numbers standpoint, it really doesn't make sense when you start adding up on all of the annual LLC reporting fees from different states and then it starts cutting into your cashflow.

Provided W2/Paystubs/references and credit report matches previous rental addresses.

Canadian credit reports are also acceptable 2.

.: Quote from @Andrew Syrios: Quote from @Walter Jones: I always like seeing this report each year.

When the credit report addresses don't match her application, you deny her and move on.Any landlord running a credit check on her after 05/01/2024 will see her credit report has a $12,000 collection from a property manager, and that should be an automatic denial.

Then track the date a maintenance issue was reported, description of the problem, who it was assigned to, when it's estimated to be completed, when it was completed, date/amount paid, etc.It doesn't have to be fancy.

Also, all it takes is one neighbor who doesn’t like you to look up your 5 bedroom Airbnb listing and your 2 bedroom house in county records to report you to the health dept, and then so much for flying under the radar.