I do a combo of short-, mid-, and long term rentals on the northside of Chicago and surround suburbs.

Airbnb is considered STR (short-term rental).

Once you have a short list, get an account with each one and run them through the wringer to see how they really function.

I'm looking to build around 700 sq ft 2 bed / 2 bath guest house primarily used for short to mid term rentals.

The property is cash flowing $10-15k every month and has been an absolute juggernaut as a short term rental.

Property is worth 7.5m and is a short term rental.

Give them a short, professional notice and move on.Second, I don't think a specific form is required in Massachusetts.

I'll work with an attorney to assist with drafting that.Q2: Yes, I'll talk to my CPA but we'll most likely hold the property for at least 1 year under the LLC given our timeline to design, permit, build and sell the property, meaning I should avoid short-term capital gains.  

Unfortunately the short and mid term markets are slowing down.

Address Your Financial ProfileBridge the Revenue Gap: Highlight your equity in the duplex and use your sale proceeds to demonstrate “skin in the game.”Partner to Compensate Experience: A financially strong and experienced partner can help offset your limited track record.Focus on the Land Deal: Secure the land at a good price, as it’s a crucial step in gaining credibility and attracting partners.Final ThoughtsYou’re entering an exciting and impactful space in real estate development.