I'm not a professional Tax person.

It will still be reported on your personal tax return.

More like one person on the HOA is opposed.  

The primary residence exclusion is $250k per person on title.

Personally if you are looking to grow in real estate going the traditional method/way of getting good properties under agreement with traditional financing will get you to where you want to go faster than trying to find all the needles in a haystack.

We don't allow links to your personal page or any other form of advertising yourself or your business.

Under any scenario, any state, someone who sits on their rights and lets someone get into the weeds to the benefit of the person who sat on their rights, will NOT have those "rights" enforced by the courts.  

I do have an agent I know personally but she's only in the area at certain times of the year.Section 8 would be better than nothing.

Here are the details:Purchase Price: $300KDown payment if taking mortgage: 10%Available cash on hand: $40KEquity in Primary Residence: $700K - $1MSecond Home will need $10K initial investment to freshen up for personal and STR use.Assume equal rates for each product? 

Additionally, if your goal is to maximize personal financial benefits, consider profit distributions from the property-owning LLC, which may provide tax flexibility depending on your situation.By adhering to FMV, maintaining proper documentation, and structuring the lease agreement carefully, you can optimize tax benefits while staying compliant.This post does not create a CPA-Client relationship.