Hey @Travis Biziorek, Correct, I currently have the property listed on Airbnb (STR) and Furnished Finder (MTR).

A couple of things in regards to saving on taxes by utilizing depreciation correctly.

maybe only be extra $40,000 to build open loft... and I would guess I could possibly charge $2000/mo rent, not sure>>***I was kinda crunching numbers...if I'm estimating it correctly it will take me over 4.5 to 6.5 years in excess rent to make up the cost of building the private loft.....does that seem worth the extra loft cost?

This is definitely not correct. 

To address this, request documentation, update the lease, address rent payment, consult an attorney, and maintain a positive tenant relationship by communicating clearly.

Your current CPA is correct.

Great episode with Florida commercial real estate developer Joshua Pardue! Check it out on Spotify

Giving someone control over who gets into my property while maintaining responsibility of kicking people out seems a bit risky.

The homebuilder could have figured it out how to maintain overall grading/drainage of the site, but it was more so needed to satisfy the City.  

Estoppel letters are signed by each tenant and counter-signed by the owner as true and correct.