My plan is to use the LLC to acquire properties and to be the employer for the property manager when I actually acquire some walls and a roof besides my own personal home.

One of the most common house hacking strategies in the Denver metro area is the Airbnb House Hack.

If I were to purchase a SFR from a consumer I would INSIST that they employ an attorney. 

Hi All and thanks in advance for any feedback / guidance, I am new to the US market and thought home inspections were common place when buying so any feedback is appreciated.  

The key factor is ensuring the property qualifies for favorable tax treatment by adhering to IRS rules regarding short-term rentals and material participation.For the 7-day rule, the IRS requires that:The average guest stay must be seven days or less for the property to qualify as a short-term rental.If the average stay is 30 days or less, you must provide substantial services similar to what hotels offer, such as daily cleaning or concierge services.Regarding material participation, to further classify the income as non-passive, you must meet one of the following criteria:You spend more than 500 hours actively managing the rental in a year.You manage the business yourself and spend at least 100 hours, with your involvement exceeding that of any other person involved in the rental.Please note there are actually 7 ways to qualify, the above two are the most common.

I have my wife listed as 50% owner of the LLC as she is not employed. 

What are the common issues found during home inspections in this area?

@Michelle Nevarez, the most common way people get started is through house hacking.You could use your VA loan to buy a property for yourself to live in.  

I’m about to close on a residential property and want to ensure everything goes smoothly. I’ve reviewed my Closing Disclosure and gathered all necessary documents, but I’d love to hear from those who have been through...

Is this common in the Chicago market or markets with high property tax?