The last thing you want is to acquire an STR deal that looks great on paper only to find out that the neighborhood you bought in does not allow Airbnb. 

I've also held of holding properties in individual LLCs that are owned by one S corporation, which allows for a 60 / 40 split between ordinary income (regular tax) and dividends (capital gains tax rate).With the goal of minimizing taxation and liability protection, what would be the recommendation from more experienced people here?

@Sakshum Kulshrestha The key to the rental license in Philadelphia is ensuring the properties zoning allows the use.

The BP function allowing you to check references and actually talk to real clients of those QIs is a great advantage.

@Laura GenoneI have my own information saved as a contact in my phone and it allows me to text, airdrop, or email my information to people I network with.

A double-entry system (like QuickBooks) allows you to reconcile your bank statements, ensuring no missing or duplicate transactions.

It's definitely not your fault that the kid allowed the sink to overflow.It's not the tenants responsibility to inspect caulk.

My credit should be the highest allowable also and I shouldn't have problems with approval.Ok, i shopped about 80 lenders (based on Fridays rates, market is closed so no live pricing)Conventional Full Doc loan you would be at 7.875% if you put 20% down (you said what the house was worth, but not your purchase price). 

If you work the valuations out right you can purchase a duplex with your 1031 exchange that will allow you to move into one half immediately again. 

It’s designed for small businesses and landlords, allowing you to create multiple accounts for rent deposits, maintenance, and taxes.