We had access to one and were about to sell but the irs told us we had to pay it all IRS has nothing to do with property taxesIn addition at death the taxable value is adjusted to the value at time of death. 

Here’s why it might be a smart move:Maximize ROI: With leverage, you can control a larger asset value with a smaller initial investment, potentially increasing your returns as the property appreciates.Preserve Liquidity: Keep your cash available for other investments or emergencies while still participating in lucrative real estate opportunities.Tax Benefits: Deductible mortgage interest and expenses can lower your taxable income, enhancing profitability compared to an all-cash purchase.If you have the means to buy with cash initially, you can later refinance to unlock equity for further investments or improvements.

@Stetson Oates, Thanks, and you are right, market conditions would limit how much of the initial funds one would be able to withdraw.I should also add that, while I am not an accountant or tax professional, it appears that at no time in the strategy above would one trigger a taxable event, since you're not selling any stocks or property. 

They provide a lot of useful information for people but primarily focused on doctors regarding all types of investing including real estate, 401Ks and 403Bs, life insurance, disability insurance, regular investing accounts and more.

Make a list of places you would love to visit regularly and start digging into the market.  

(Another option to the above scenario is to instead have the LLC lend my father money to complete the rehab so all the repairs are made in his name...but then the LLC would get no tax deductions on the rehab, plus my father would wind up paying interest on the loan and the LLC would incur taxable income on the interest of the loan as well.)I've said a lot here, but It would be greatly appreciated if anyone can give me advice on the best strategy to pursue...Thanks!

The market rate for a full-service STR co-hosting company is 25% gross after cleaning fees.On average the following would be included... 24/7 guest communication, vender oversight, weekly updates on the OTA listings, make sure maintenance and deep cleanings get done...but owner pays the expense, stain removal on linens, marketing the property, keep supplies stocked...again owner pays the expense, keep property guidebooks updated (digital copy and hard copy), security (locks, cameras etc.) oversight, bi-weekly pricing software management, walk the property regularly, provide monthly reports, and obviously any guest problems that arise time to time.

You want to make sure it will not be a taxable event.

Keeping each LLC’s financials distinct helps prevent this risk.Insurance: Having adequate insurance coverage for each property and ensuring it aligns with the LLC structure can also be a vital component of risk management.Legal Counsel: Regularly consult with your real estate attorney to ensure your structure and practices align with your protective strategy.In conclusion, while running everything through your holding company might simplify bookkeeping initially, consider long-term implications and ensure you are safeguarding each property and your overall investment effectively.

You want an LLC for ease of administration, trusts are kind of annoying as they can act as their own taxable vehicles as opposed to single-member or pass-through entities that an LLC can provide.