I appreciate the info provided so far, but I have more questions and I don't expect freebies from pros like yourself.I'm looking to get together a semi-solid idea of how this all works before I drill down, in depth with my usual accountant in a couple weeks (if I still decide to drill down with my usual accountant after learning more info on what I'm trying to do - from you or someone else.)My usual guy can't get to me right away and I'm in a time crunch, if this deal is going to happen the way I want it to (bonus depreciation decreasing by another 20% on Jan 1st)I really just need to understand Bonus Depreciation, in detail, and as it applies to my situation.I'm brand new to all of this.

We currently have a LLC that owns our existing rental property and we run the short term rental activities through this LLC with its own separate bank account.  

Higher maintenance must be accounted for and is annoying, but if you end up refreshing it before renting, that will save you time and money down the road.

Account Closed not sure what you mean?

Not only attorneys, but accountants, architects and other professional service providers.

There are some exceptions to that as I mentioned that have been done in the past, but again that would be through an escrow account, etc.

@Samantha Zanotelli- depending on the price and loan amt needed - there are lenders / programs that allow 10% for a jumbo loan scenario ...the payment reserves  requirement will likely be 12-24 months of payments  and you are able to use part of any retirement account balance to meet this requirement 

The landlord is required to return the deposit and/or provide accounting within 30 days of moving out AND providing a forwarding address. 

@Clay TeegardenAmongst the avalanche of nearly identical responses from my fellow accountants about setting money aside and rates and so on, I will repeat a point that I consider crucial:There is no guarantee that you will have any taxable profit when you start flipping.

We play games called, "lets show the property to a perspective tenant" and "lets go to closing together" and "lets deposit money in your bank account" and "lets review your college fund investments".