The first is that there's no consensus between tax professionals, and the second is that you will not like my personal interpretation.My interpretation is:Until the property is "placed in service" - everything goes into basis.Illustration.You buy a property July 1st.You finish rehab November 1st and put the property on the market.Your tenant moves in January 15th.The property was placed in service November 1st, and it does not matter that the tenant did not move in until the next year.Everything paid between July 1st and November 1st, including interest and utilities, goes into basis.

That’s all very helpful and thank you for the tips. 

I'm more willing to move off  "LLC B" property because of the work required to keep this going. 

👋I work with a lot of investors who are diving into short-term rentals, and I wanted to share a few tips I’ve picked up over the years that can really help maximize ROI.

So you move on.I also like Robin's Saturday morning group in west FTW. 

Also find a lender who can move fast - we have several that can close in 15 days and less.  

@Sean Anthony to us, this situation is really no different than a nonpaying tenant.We try to work with tenants, as "life happens", while keeping pressure on them by moving forward with the eviction process.

If you do want to move forward with this property, one recommendation I would get is to find a local contractor with experience that you trust and have him advice you on the scope of work that may need to be done as well as the cost it would take.

Any tips/tricks would be greatly appreciated.  

(This is the tip of the iceberg; I would prefer to chat with members than fire lengthy messages back and forth.)1.