Is this relevant or is the relevant factor the location of the syndication properties that would take advantage of the bonus depreciation?

This implies our unit’s cash flow is below if it were an LTR because 1) we pay utilities 2) we furnish the unit 3) we pay MTR  PM fees which is near double the LTR rate. 

I asked how he wanted to structure late fees since there was no language in the contract about that (newbie mistake big time!!).

I agree with Ian.cleaning fee is income.

This standard can vary depending on factors such as location and unit size.

If I could chime in to help in the search:be sure to find an accountant who is willing to grow with you, and is not too high priced fee-wise.

I assume I would lose the fee I would pay the intermediary if I do not complete the 1031.

@Patrick HancockLLC's are not free and there are costs associated with LLC1) Formation costs - potential attorney fees and setup fees with the state2) Registered agent fees if the LLC is not in the state that you operate out of3) Annual fees to keep LLC active4) Bank feesThere are also additional administrative burdens with having so many LLC's.

I would add that HOA is also factored in (if applicable) and the property needs to be rent-ready, not in need of rehab. 

I've included an example below to help illustrate this.So different lenders have different rates (which do vary even for DSCR loans) but these are factors they all consider.See example below:DSCR < 1Principal + Interest = $1,700Taxes = $350, Insurance = $100, Association Dues = $50Total PITIA = $2200Rent = $2000DSCR = Rent/PITIA = 2000/2200 = 0.91Since the DSCR is 0.91, we know the expenses are greater than the income of the property.DSCR >1Principal + Interest = $1,500Taxes = $250, Insurance = $100, Association Dues = $25Total PITIA = $1875 Rent = $2300DSCR = Rent/PITIA = 2300/1875 = 1.23DSCR lenders generally let you vest either individually or as an LLC.