Since we are getting 2x market rent, my cash flow is many multiples of what I would get using a typical LTR tenant.

Using a turnkey condo for short-term rentals on weekends while reducing your commute could be smart, as long as STR income covers costs and local regulations allow it.From tax perspective, if you personally use the STR as you intend, you cannot create losses under vacation home rules.

If someone sues you and wins, they can only take the LLC that owns the property that was involved in the lawsuit.Best: Using a combination of LLC and land trust to protect your rental properties.

Hi NOah,To stay on top of market data, I recommend using a combination of national and local sources.

Or am I going to be paying taxes on the money I’m using as the down payment, since it’s not technically going through a 1031x? 

The first deal using a lot of leverage is great as it allows you get your foot in the door!

Also, if your rentals are already in service and the banks are using a blanket 75% of gross rents figure, theyre probably incompetent in their underwriting.

As for the "Lazy 1031 exchange" reference, a true 1031 exchange allows you to defer capital gains taxes by reinvesting proceeds from the sale into another similar property, but that doesn’t seem to apply here since you're looking at using a passive loss instead of a like-kind exchange.

@John Smith I did a similar deal like this using a small local bank that was familiar with the property. 

Using a DSCR loan that allows closing in the business name is a great way to separate personal liability from the business.