Rental properties come in several flavors... short term, long term, etc.  

In short, you ride the 'coattails' of the previous owner's taxes for the first year.  

I noticed their business is listed as an LLC on their Zillow profile, and we also found that they have a few other unrelated LLC businesses that didn’t seem to work out for them over the years and were short-lived.

These properties are now rented as long-term rentals, and we plan to expand our portfolio while also branching into short-term rentals.Looking back, I realize how much my current knowledge and experience could have fast-tracked our success.

Over time, I’d like to expand into short-term rentals, buy-and-hold properties, and flips.I’d love to connect and learn from this amazing community.

Its like a short-sale, its better than a foreclosure but has downsides as well. 

Prior to last year, effectively any SFR was eligible for a short term rental license.

I think I'm in a pretty unique situation and am trying to figure out the right hoops to jump through to move forward.Long story short, I'm trying to tap into the equity of the rental property passed down from my grandparents that is held in an S-corp which is co-owned by myself, my siblings, our cousins, and an idiot uncle.

There is a distinct difference in the law between short term and long term rentals. 

Now take short-term AirBnB properties like one of mine in Miami.