Hi Mike, I'm not an attorney or CPA and I would recommend talking to one but I can give you what I know.Can't help with a name suggestion but as far as the LLC goes, I believe you will want a separate LLC for the vacation rental since they are not related.As for the formation, while what the Franchise Tax Board borders on illegal there has not been a high enough court who has agreed with that.

In my opinion, this property borders on actionable misrepresentation.  

@Chase Cannon I can speak to North Myrtle Beach, which sits just below the NC border. 

Marked as Pittsburgh, PA but it's right over the border in West Virginia. 

I'd focus on the areas between I35 and 75, north of 380 all the way to OK border.   

I work at the border full-time with the Department of Homeland Security and was looking to house-hack and have a short commute, live in the country but still very close to all of San Diego, and to do something with the large amount of land that came with the property.

Some landlord/tenant laws that are so anti-landlord that they border on the absurd, such as a tenant being able to sue their landlord on the 1st day they move in for lead poisoning, when they obviously could not have had that lead poising from your property.

I normally say draw a big circle around DFW and it seems to me the overall better investment places are along those outer borders....that's if you like newer 3/2/2 type properties under $200K. 

Specifically in the border town areas?

Idea being the new owner will do all fix up pay tax's insurance etc.Its nice in theory but in practice this type of paper has a huge default rate bordering on 50 to 70% over first 5 years..