Given your situation, a property closer to Nashville might be more advantageous for short-term rentals like Airbnb, as proximity to a popular city typically attracts more guests and higher rental income.

LLC is pass through income so have your bookeeper or CPA take care of everything at the end of the year for your tax documents.

Id be happy to break-even with the rental income if I get all of my invested capital back.

STR income: $160K/year.

If your firend wants to stay in the place AND has the funds/income to do so, they need to refinance in their name ASAP (as part of the process), not 5 yeas from now, not if they remarry, not 10years from now.   

My goal would be to build an investment net with passive income, de-risking the fact that I am the only earner.  

Hi Kyle, I really like rentprep w/ income verification.

The higher credit, higher income, gainfully employed S8 tenants are choosy about where they live and do not want to live in a bad, high crime area.By buying in an area that appeals to high quality S8 tenants, the arbitrage that you might see between S8 being higher than market might disappear.So that being said, it’s more important to lead by location than strategy.Happy to talk further if you like.  

Please reach out if you are a lender or can connect me.5 Bed 2 Full Bath & 2 Half BathExisting Mortgage ~$550,000Home Value ~$1.1+ Mil Depending on the STR income generated from this property, you could do up to 75% LTV on a cash out refinance.

Sometimes, there is also a tenant already in place which means you can start generating rental income from day one.