Unless you have a clause in the purchase of the entity that clearly makes you responsible for the entity from the day that you buy it(Indemnification) I wouldn't bother with the LLC.Good luck man. all the best!

Is it common to purchase a home with other debt?

@Shannon VistisenI would definitely purchase it and do it yourself. 

Quote from @Trevor McCormick: Hi All, looking for some advise or mentoring on purchasing a short term rental property in Kissimmee Florida.1)Is it still a good investment with the current prices?

Evicting them, even after purchase, could be a lengthy and costly legal process.

For more bookings, consider promoting on social media or offering last-minute deals.Regarding ticket partnerships, local attractions or smaller groups might be more flexible than larger platforms like Xplorie.

You can purchase this with a low-money-down FHA loan. 

I understand where you are coming from as we always did our taxes on turbo tax as well until we purchased rental properties. 

I have a question about purchasing a duplex and renting it out.

The only two ways to rectify this are (1) purchase the property far below market price or (2) significantly increase the property net income usually through some method of “repositioning”.