@Mary Jay this is a question about ACCURACY in accounting. 

@Rebecca GonaBigger Pockets is a great place to find a tax accountant that specializes in short-term rentals. 

@John Lasheri agree with you, you'd be surprised at how many people listen to Grant Cardone though, and decide that they're going to go buy a 100 unit with 'OPM' as their first deal and quit their job.i think buying something of that size with a few partners is a perfectly good goal. 

Depending on the size of your portfolio and what you're doing in real estate, it may or may not be worth it setting up all these entities.I don't run any other businesses. 

Most of the REITs are classified as Micro as to size and have great volatility in pricing and net asset value adjustments.  

The biggest risk I see is one decent size hiccup and they could be toast.

The lot size, the pool, and the quiet cul-de-sac location provided great bones, and with the right upgrades and modern touches, it could command a much higher price in the competitive Hamptons market.

Also, What do you consider growing to a moderate size?

@Scott Trench accountability check in?

(End)Unfortunately, HOAs are often ran by individuals who are not the most knowledgeable on regulations, accounting practices, and more - and property managers do not want to intervene for fear of losing the contract.