Mid-term is more likely to work in any market than STR, but I think you would be surprised at how well an STR could do if there are no other options like that in the area (think people's parents or friends coming in for the week(end)).I've seen a lot of people grimacing at the net-negative house hack (it's just a product of rates and low inventory in a lot of markets) and this is one option to try to recoup some of that loss.

K-1 losses, generated through depreciation and cost segregation, can often offset distributions during the hold period, minimizing taxable income.

Taking the loss now is preferable to paying out monthly for the privilege of being a landlord.

However, it's important to be cautious, as sheriff sales can be risky for inexperienced individuals and may lead to significant financial losses.3 - Referring to point 2.4 - I can provide you with some recommendations for CPAs who are based in Ohio.

was there an agreement between you and your parents that they should share in the profits / losses of the airbnb / property.If there was an agreement, they should also be included in the LLC.It is best to discuss this all with an attorney.Best of luck!

I do this at least quarterly for some of my clients and they like being able to see the profit and loss reports. 

Any way food for thought, good luck with whatever you decide to do!

Talk to an accountant prior to doing the cost segregation study.You want to discuss whether it will be beneficial or not.In general real estate is considered passive which means that it can't be used to offset other forms of income such as wages, interest, dividends, capital gains, etc.However, there are some exceptions where the real estate loss can offset these types of income.best of luck.

Now some food for thought.

It was a very long drive. 18 hours in total on the open road, I would sleep in my car along the way and live off of gas station food.