In a senior living business, the operations are usually a separate entity and the operation entity rents from the property entities to keep operations completely separate from the property. 

This land was also acquired through our business so there are 4 separate parties involved that will have ownership and will split any profit or income.Questions - 1.

Now, we live in a SFH and rent out separate parts of the house to travel nurses.Interestingly enough, even though Hagerstown isn't a vacation destination, our STR and MTRs get a ton of traffic.If you'd like to talk more feel free to reach me.

Hi Scarlett, you actually just started another topic, maybe start a separate post in the forum - I am sure many seasoned investors will share their insights with you.Apologies.

On a separate note, I do not believe this farm yard has any strategic value for them... it's in a very corner off of a residential road that wouldn't do any good for trucking down or anything like that.  

For example, I require cosigners to have a 680 credit score and they must have enough discretionary income to cover the rent they are promising to cover.I have a separate Cosigner Agreement that they sign.

Now, we are 1 month strong and counting in renting out the top 2 bedrooms on airbnb, with us living in the bottom half (completely separate) - here's how it's going so far:Guests Stayed: 15Reviews: 5 stars, 8 reviews, super hostOccupancy: We had 3 nights of where 1 bedroom wasn't rented.

Back when I was in the acquisition side at a large apt holding firm, every property was in a separate LLC, and when I spoke to investors there (Nebraska) it seemed like small and large investors kept everything in LLCs as well.Not sure if it is just state by state or what, because I always thought that was the way you did things as an investor. 

This separation should be well-documented to maintain their classification as passive activities.

Just open a separate bank account, give it a business name and keep track of all income and expenses.