That said, we have traveled a lot and stayed in wonderful Airbnbs over the years and have always dreamed of creating an incredible experience for someone visiting Minnesota with a short-term rental as well, so we are definitely open to that idea and have some great experience as to what we know would provide an exceptional short-term rental experience. 

Again, the LLC does nothing except own public securities.Here is the relevant language:Exclusion From Partnership RulesCertain partnerships that do not actively conduct a business can choose to be completely or partially excluded from being treated as partnerships for federal income tax purposes.

Most take near a year in southern Ca, but you hear of exceptions in both directions on that timeline.What some developers are doing here is leveraging the affordability issue and getting permission to build additional ADUs by designating some as affordable or semi affordable units.  

Once it is operating, it doesn't require a ton of time, save & except when you have an emergency come up.

I agree with Patricia, but there are always exceptions to every rule.

I dont get much out of it as an investor except getting my son in a house vs staying in the rental market.  

Some good into for you to have (and your seller) and steps forward:First: As you have learned, you cannot have two FHA loans unless you qualify for a couple of different exceptions.

Yes, you can use part of your Traditional IRA funds for a down payment on a home through the First-Time Homebuyer Exception, which allows you to withdraw up to $10,000 without incurring the 10% early withdrawal penalty.

This is so scary, I would NEVER do this type of deal again, and many investors are experiencing the same thing, except some are not even aware of the seriousness of their investment losses yet.  

I bring to the table my full expertise in project management, construction, and deal sourcing, along with the knowledge I’ve gained working tirelessly in this industry over the past 3 years.My vision is to dedicate the next 10-15 years to real estate development, growing projects that generate significant returns while delivering exceptional results.If you’re interested in learning more, I’d love to discuss how we can collaborate.