Yes, that's correct.

Find Brandon's videos on YouTube for the "four square" method of analyzing homes and practice.

Using a VA loan as a financing method for the house hacking strategy is great way to build equity.

We purchased a property in early October and are placing it in service this week (mid November).We had intended to run a cost segregation study and try to accelerate depreciation which we can deduct against our W2 (assuming material participation).However, we have been reading through the IRS guidelines (eg publication 946 on Property Depreciation) and there seems to be the concept of "short year" which would mean that we can only deduct ~1.5/12 of a year's worth of depreciation in 2024.Is this correct or are there any different rules for STRs specifically?

Your lender is correct—FHA loans can’t be used under an LLC since they’re for individuals purchasing primary residences.

He is correct that you NEVER take the security for last month's rent for that exact reason.

These methods help you find owners who might sell but haven't listed their properties yet.Advantages: Owners might not consider selling until you make an attractive offer.

Handle all maintenance in a timely manner (know how much time you have to respond and correct problems)?  

You can also look at Airbnb using "the enemy method" to see what competitors are doing nearby that was coined by the brilliant Avery Carl.

If you decide they're not a good fit, then vacate them and release with new tenants that you actually correctly screen and lease to.