Each choice has its own set of risks and benefits, so it's critical to consider your financial status, investing goals, and Cleveland market opportunities before deciding on the best strategy.Good luck!

Be careful how you word any of this though, if you had told the tenants the adult son could apply but not his wife and daughter it could be familial status violation for fair housing.

I just got married to a realtor (i can claim real state professional status in 2024 via my wife).

.* Verify the "legal non-conforming" status of the MH's.

If I were to take a poll of all of the investors who came before you and who  implemented similar entity formation structures I suspect at least 90% fail to utilize the correct insurance depending on the status of their project (vacant, builders risk, property etc.), fail to execute contracts with vendors, use uninsured and unlicensed vendors, fail to be added as additional insured (likely don't even know the difference between being a certificate holder and being added as additional insured).   

That was the largest part of my financing but in addition I did end up having to ask my older brother to co-sign for me because the underwriters just could not trust the 1099 contractor status given the volatile industry I was in during 2020.

Next year with my pension only I am in the 22% tax bracket but also will have more passive deductions with 2 properties, REP status and cost segregation on both.  

If your wife is a stay-at-home mom and is involve with managing the rentals you may want to explore Real Estate Professional Status as an alternative tax strategy or along side your STR tax strategy.

I think i remember reading that you can also demonstrate accreditation status by working in some capacity for the syndicator, or also by working "meaningfully" in real estate anywhere in some capacity, and these don't have a dollar value ie. the 300k joint filing or 1Meg net worth threshold. but the amount of due diligence required to invest in a private syndication is/should be a lot, which always are more opaque than a public RE investment, like REITs, is something you may want to avoid until you have been involved in RE directly for some timeconsider mortgageREITs, eg.

Question to this @Albert BuiUnder COB exclusion to bypass the 50% LTV restriction:- you have paid the mortgage for atleast 12 monthsWhat if you do a subject to and backpay 23 months of a loan that is currently in a loss mitigation status.