We have been working to be extremely conservative with our estimates but with this being our first go at this, any additional expertise is greatly appreciated! 

Would be great to reconfigure the lot lines on the two additional parcels so they'd both meet the minimum to build.

Supplement this far simpler entity approach by ensuring you have appropriate types and levels of insurance, you operate your business in a manner in which your conduct is not considered an exclusion in your policy, you work with licensed and insured vendors, you execute contracts with indemnification clauses with these same vendors/ require additional insured status &  maintain appropriate licensing and permits.

Additionally, the replacement property must be real estate to qualify under IRS rules.

I did just have my first GVR guest (arriving 1/14) ask me for one additional bath towel and face towel for each of the 3 guests.

Additionally, she stated she doesn’t want to pay either.

Even with that additional cost accounted for it looks like the guy made out like a bandit.

In addition, you'll have depreciation recapture at rates up to 25%.

Hey Tim, If you are not using Hospitable yet that would be my first addition.

In both you are now paying taxes on an additional $1K/mo.