@April CengThere are lots of programs out there of different types and flavors.   

An LLC has nothing to do with tax, it doesn't in anyway enhance your ability to deduct expenses if you were told that it was wrong.

If its in an up and coming area it seems the city would be foolish not to mix it up a little to enhance their tax base.

We closed on it in May, did some enhancements and changes to it, and now have it on the short-term rental/AirBnB/VRBO market.  

To give a little more color on the 506b vs 506c question, that choice will be more about your ability to raise capital, the right flavor of capital to fit your deal, your track record, and how you are viewed as a sponsor, than it is about the ability to publicly solicit.

I have only ONE tenant out of 32 who is not paying rent only since July 1 (and she got the enhanced unemployment - there's just always a better use for the money than paying the rent), and it's driving me CRAZY. 

An HO-5 policy would do the same thing but would give you other enhanced coverages beyond the scope of your question. 

Choose your flavor.

@Tyler Frederick Weese LOs flow toilets you gotta talk to Joel Fleischer with NOI Enhancements

Thanks for reaching out.Sameer, you strike me as a life coach of some flavor.