In the event that the activity is determined to be dealing inventory by the IRS, the total taxes on the profit are high...

I think my post is a bit all over the place just to cover the main events that tie together.  

Understanding the impact of operation expenses and cap ex when those events occurs is really critical to the performance of real estate. 

Distributions from an LLC are not a taxable event.

I recommend visiting your local REIA (Real Estate Investor Association) to talk with other landlords, property managers, and other investors in attendance.

This step ensures compliance with local regulations.From my experience, when I had an STR in Cleveland, I only did the regular rental registration, so make sure you complete both registrations to avoid any issues.Cleveland is a popular spot for STRs, especially for visitors coming for sporting events and medical purposes.

Consider attending local real estate meetups or joining online forums where local investors share insights and opportunities.Educate Yourself Continuously: The real estate market is constantly changing, so staying informed is key.

Any suggestions on where to start, what to look for, recommended reading or social events.

In fact, even if the property were to appreciate to the point where a favorable refinance event existed for @Eli Jerman I would most likely still advise against re-titling the property in an LLC.

You can go up top here on BP to the "Forums" tab and then click on "Events/Meetups" and you'll find plenty of meetups depending on what area you are in.