@Dave Foster   @bill ExeterMy view is without violating any irs rules your best option may be to live in the property 2 years and use the exemption.  

From their point of view they're seeking three primary things:Access to capitalControl of their dealCost of capitalThey likely have a lot of the first two so the only motivation they'd have to accept your money into their deal is either the third bullet. 

I think what you describe is pretty much standard performance for rental properties if your not paying cash and I am just assuming your putting max debt on them to try to get your return numbers into your criteria..

Kudos to all members who got into the fray and really tried to bolster their point of view publicly. 

but not as described above. 

When filing the LLC return, it is important to ensure that these liabilities are accurately reflected on the balance sheet.However, it's essential to note that distributing the refinance proceeds among LLC members could potentially be viewed as a taxable event if there is no intent to repay these amounts to the LLC.

Alas, this scenario didn't last very long, as you would expect in a free market capitalist society -- new money flood in, more STRs in supply, property prices increase, STR incomes decrease, until a new equilibrium is achieved.Nowadays, the word STR is being used to describe both the property and the business.

Long-Term Investment Perspective:You’re right in noting that the market can seem saturated now, but it’s important to take a longer-term view.

Ideally, my dream is to have a condo in my favorite neighborhood of Chicago (Lake View).I'm 24 years old.

Hi Lina, It’s exciting to hear that you’re looking to invest in a mid-term rental (MTR), and I’d love to help you navigate the financing side of things.Understanding loan options, down payment requirements, interest rates, and how lenders view MTR properties is crucial to setting yourself up for success.