(Corporations had huge problems with this in 2008.)

I complemented it looking for more documents at the IRS site with Lance’s words and it was extremely helpful.Indeed, a multimember LLC can select how to be taxed sending a form to the IRS and, If taxed as a partnership or corporation, not be subject to FIRPTA because it is not a flow through entity (for this tax withholding purpose ) anymore.Anyway, I want to have a meeting with a real estate experienced CPA in the DFW area in order to clarify any details and establish an LLC with everything covered.

If I buy a house under a corporation (where myself and my dad are the 2 directors), then can I lease the property to my dad to stay in it? 

I assume the market would then be flooded with big corporate investors as landlords.  

You should be receiving a monthly owner statement and then you can just incorporate it into your corporate accounting.I have almost 20 years of PM experience in the accounting/finance world.

Simply put, there's so much difference economically wise, politically wise (depending on states), financially wise and ease to operate, even remotely. 

"Terminate on Sale" clauses are rarely allowed by the courts with residential leases.The good news is, many tenants don't know this.So, we always politely ask tenants to sign our lease, ask if they want to extend them and try to reasonably increase the rent.We don't recommend abusing this with strong-arm tactics.

She also spends a lot of time just correcting their errors because pointing their errors out to them causes them to point fingers in every other direction and they take no responsibility for them.However, our corporate parent is realizing some savings, so we're stuck with this nightmare.Definitely NOT recommended.

Interestingly, our local politics is one of the draws for STR investors in this region.Hope this helps provide a local perspective!

You must be void of how politics work.Just go employ couple of hundred people, talk to a few hundred people a week, work with city/govt officials, talk to lawyers, you'll see the pulse quick.