To support my seller and seize a valuable opportunity, my business partner and I decided to purchase the property ourselves.

See responses to your questions below: Correct, California is uniqueTo qualify for REPS you need to meet a number of criteria, including (but STRs that meet IRS criteria generally don't need REPS to leverage tax benefits): More than 50 percent of his/her time working in real property businesses; AND, More than 750 hours of service during the year.

I don't have any specifics but as someone who is into tech, accounting/finance, and a consultant to grow businesses.

Hi friends!  I have a LTR property in the Springs and it's in an LLC.   Do you know if I am able to get a HELOC on the property even though it's under an LLC?  If so, how did you go about finding a lender?

Think of it like buying an existing performing business.

Has anyone done something like this before and has insight/tips/advice?

My name is Rami, and I’m a short-term investor doing business in Texas, with a strong focus on the Dallas market.

The property was purchased in 2021 for 1.1 million, was appraised in the summer of 2024 for 2.2 million, and reports from online appraisal websites say it could currently be around 3 million.

Quote from @Griffin Malcolm: Open an LLC and apply for a small business line of credit from Key Bank.

Any tips/tricks would be greatly appreciated.