Consult a real estate CPA or tax attorney to assess if the benefits outweigh the fees and risks for your situation, and consider alternatives like 1031 exchanges or installment sales for simpler strategies.This post does not create a CPA-Client relationship.

Prioritize financial stability before scaling your investments.This post does not create a CPA-Client relationship.

Quote from @Charlie Martin: Hello, I’m hoping to buy my first property next year, and am wondering if I should create an LLC to do so.

Additionally, I’ve been wondering if it might be possible to create an LLC, rent my house to the LLC through a formal contract, and then have the LLC operate the Airbnb.

It seems great on paper because you were technically creating more income but you are also creating more of a headache...Cramming in bedrooms and forcing living space is not always the best way of going about things.

There are some other dynamics that also will likely play a factor in making the situation great for investors...such as runup in home prices and interest rates probably created a permanent renter class of society. 

Man was not created to lounge all day.

*This post does not create a CPA-client relationship.

What I wrote above does not create an attorney/client relationship between us.

It creates a problem when selling the property as no one who wanted to live in the house would buy it, and your buyer pool for this property would be majority investors.