I’ve never ripped anyone off, in fact if I forgot to do something I’ll end up having a dream about it and go back and do it.

Even when talking with some real estate professionals who would seem to have an incentive to help me with renting out my property, I have been met with serious warnings (they pretty much say don't do it).

If it's a QM you won't be able to close in a business entity like a LLC, although in some cases you can transfer into an LLC after closing.

If you can't find a property that cash flows with real underwriting numbers, 8-10% vacancy, 8-10% property managment (whether you do it yourself or hire someone, you still need to account for that time/expense) then don't buy it.  

It's simply overwhelmingly nuts. 

You can do MUCH better, believe me. 

How big do you want to scale or how many closed deals (or more importantly how much profit) are you trying to do per month?

How did you find this deal and how did you negotiate it?

@Jonathan B.Assuming you pass the "material participation" test for 2023 and did not use the property yourself (or used very little), you should be able to treat it as an STR for 2023, including bonus depreciation.  

It will familiarize you with the basic terminology and benefits.