It separates your personal assets from your business, providing a safeguard if any legal issues arise related to tenants or the property.

As Stuart mentioned, there are several issues that might arise with the property, which could definitely impact your cash flow. 

These areas could see a rise in demand for multifamily housing, retail centers, and industrial spaces as local economies expand.Another key piece of Bessent’s plan is increasing domestic oil production.

This can provide a better depreciation benefit than traditional STR real estate.If permanently affixed to land, it qualifies for real estate depreciation (27.5 years for residential properties).Considerations:Zoning laws and campground restrictions may impact legality.Self-employment tax risk arises if you provide substantial guest services.Vacation home rules apply if personal use exceeds 14 days or 10% of rental days, limiting deductions.Audit risk is high, so keep detailed records of participation, expenses, and rental operations.Given the potential tax benefits and complexities, consulting a real estate tax professional is advised to ensure compliance and maximize deductions.This post does not create a CPA-Client relationship.

It's about the principal and setting standards incase a situation arises in the future.

Happy to answer any questions or offer advice if a need arises. 

For instance, said property manager manages maintenance issues, problems that arise during bookings, basically anything that needs a physical person at the property, while I manage the rest?

The best contractors don’t just throw their hands up when issues arise; they come up with solutions and keep the project moving forward.5.

Let me know if any questions arise on the area.

So their opinion of what to do when a problem arises is inherently biased.