Don't bring them as equity partners, as you will have to file a partnership return. 

A little late to the gratitude fest, but like @Kerry Baird above, I am genuinely grateful for the old timers here and the new voices as the collective wisdom of this group is something I tap into regularly.

It also isn't enough proof for a judge in small claims court, if you decided to file on the guest there - you'll need your own rental agreement.

If the property was involved in a bk it was put into an estate for the entity who filed.

Under the Corporate Transparency Act, LLC's are required to file a Beneficial Ownership Information (BOI) Report. 

Taking pics of each wall, can be too many pics and a very large file/pdf to share with the tenant. 

I wouldn't worry too much about it, if you have a competent CPA or bookkeeper they should be able to review your books and within minutes have a strong grasp on who gets a 1099 (spoiler alert, not every contractor gets one, I'll be annoyed if I get one since I'm structured as an S corporation) and the amounts to report.1099 filings are usually a loss leader for us, so if you're working with a professional make sure you take advantage of them filing everything for you.

But this year, his team is saying I need to file 1099s. 

A property qualifies as Homestead for this exemption if an eligible owner files a Principal Residence Exemption (PRE): https://www.michigan.gov/taxes/0,4676,7-238-43535_43539-210891--,00.html#:~:text=Section%20211.7cc%20and%20211.7,purposes%20up%20to%2018%20mills.Many investors have gotten an ugly surprise when they bought a property that was a primary residence of the seller for the last 20 years.

There are also additional costs of operating and maintaining an LLC, like separate bank accounts, annual report filings, tax filings, etc.2.