Yes Mike, that’s correct.

This is correct.

Most people don't know how to use a wood burning fireplace correctly - operating the damper, not closing the damper until the fire is completely out, going to sleep with the fire or coals still burning. 

Correct.

Converting your condo into an investment property and transferring it into an LLC is a smart move for liability protection.You’re correct that retitling the property involves Chicago’s transfer tax, which can be substantial.

Mike Lambert above is correct about house values in Japan.

I am also not a CPA but @Avery Heilbron is correct.

I’m looking to ensure I structure things correctly and attract the right partners.

If we let the hotel corporations do all the talking while we remain in the shadows, it does nothing to help the STR world! 

So I'm understanding this correctly, did you do a cash out refi on your primary residence then took that money and paid off the rental in Dallas.