Key is to not grow to fast and have $ set aside as it's never as fast or profitable as you think when getting started where in Texas are you looking to be a GC?

Can you refinance and how. does the original owner has to sign docs to do that? 

If you want more insights in the STR Market make sure to get our newsletter to stay up to date: https://www.biggerpockets.com/podcasts/short-term-rental that may be the WRONG question.  

You will only get what someone is willing to offer . 

If one of you actively manages the property, pursuing Real Estate Professional Status (REPS) could unlock full deductions against W-2 income.

You need to learn how to run a business.

So your wife will spend 5 full days repainting the whole place and scrubbing the bathtubs.

@Kevin Turano, that appears to be a deed not a lease.

Go ahead and file.In real life it costs you time to figure it out and money.

They are known as the Winthrop Factors-The purpose for which the property was initially acquiredThe purpose for which the property was subsequently heldThe extent of improvements made to the propertyThe number and frequency of sales over timeThe extent to which the property has been disposed ofThe nature of the taxpayer’s business, including other activities and assetsThe amount of advertising/promotion, either directly or through a third partyThe listing of the property for sale through a brokerThe purpose of the held property at time of sale; the classification as an investor or dealer is determined on a property-by-property basis.To me intentionally buying a property to renovate it to resell it for profit, twice in the same year, and opened an entity to do it in ....is going to be ordinary income and not capital gains.