I opened a business checking account with Regions.

I think most successful investors would tell you that, while you need to take tax into account in your decisions, you shouldn't make a decision based on that alone.

AirBNB and VRBO don't transfer accounts and reviews.

As a co-host for short term rentals, you may not need a license as long as you're not crossing over into activities that could be considered brokerage activities like handling any contracts, collecting rents, doing any accounting, approving tenants, etc.

The designer talked about has a completely different account then the designers I usually recommend, and I would have had red flags to begin with.

There's no step by step guide but there are key things : Learn: RE strategies, what interests you, what do people in your area need.Connect: find a mentor, accountability group and be around those doing what you want to do.Help: solve problems- do people need dealflow, property mgmt, construction expertise, etc. 

There are some accountants out there who say that the very act of doing a 1031 exchange is an attempt to avoid tax and so a 1031 purchase from a related party is a non-starter. 

I don't like the returns but we use regular savings accounts. 

If you sold it for $500K (after expenses) and invested it in a savings account (or some in a RRSP or TFSA-up to your limit), even at 4%, you'd get $20K a year.Also what province is it in? 

And then maybe I wouldn't even worry about the annual fee after a lifetime charge, but to shut down my account without any explanation.