During the pandemic I was furloughed, so I renovated my house to studs using a lot of advanced high-performance sustainable building techniques and incorporating a lot of advanced building concepts.  

People simply won't easily buy a house with previous hystory of crumbling foundation even if it is fixed... or "claimed" to be fixed.The 70% rule also doesn't account for the projected time it takes to flip a house.And no... your predetermined "holding cost" incorporated in your 70% rule is not it.The 70% rule is a death trap and is a sure way to derail your business.Also, if we are both interested in the same property, and you give a 70% offer, you will ALWAYS be beat by me that will ACTUALLY give the highest possible offer I can make. 70% rule focuses on being "safe" and will have the effect of not getting many deals.The right method focuses on property determined risk analysis to leverage "being safe" with the amount of allowable profit (for that safety margin). 

Thankfully, we are located just outside the incorporated town of Breck so this will not apply to us.  

Later on down the road, you can consider getting an LLC or incorporate.

., and for your information, 1099's are NOT required for incorporated entities.

Yes, you are personally liable for personal guarantees, but that does not extend constitute piercing the veil of a corporate entity, at least to loans or leases, that is acceptable practice.Hint:Now that you are a member, you might contact others in the state you may incorporate in, you may find an investor willing to work with you and they may agree to allow you to use their name as a registered agent, there is no liability for such agent except to notify you if the authorities inquire, so a very limited service aspect, so long as you agree to maintain the entity. :) 

Then, you've never worked in corporate America.This diagram doesn't translate well to this medium...* - Pres. / CEO** - Exec VPs**** - Sr.

Municipal regulators will always look to the titled entity for impairment corrections because ultimately its the owner that has the most to gain/loss should conditions present dictate changes.In the situation story, and in most instances in the NYC marketplace, landlords will need to incorporate new language into their rental/lease contracts that prohibit and AirBnB use, and furthermore pass on the financial liability for any breach to the tenant.In no way shape or form should the temporary on demand tenancy have any liability for building or use infractions resulting from their rental. 

Start out in corporate America, ad was happy there working my way up and happy to have consistent income.  

I was curious if there are any strategies that you all use to help limit your tax burden by deferring taxes to when they are, years down the line, used for personal reasons.Is there a way to avoid paying personal income tax on the cash flow generated from a buy and hold strategy if it is reinvested into more property/debt repayment/capital improvements or does that have to be rerealized as income tax if it is not in corporation of some sort.AND if I were to create an LLC to hold this property within the LLC would there be tax liabilities for any of the cash flow generated even if it were reinvested directly into the business.Thank you to everyone in advance who can help me begin to form a long term strategy!