So far, we've pieced along different elements of this (different tax person each year, no LLC to one to now 2 this year, haven't yet used a bookkeeper...)trying to streamline systems and have a solid foundation for our fairly new and growing real estate portfolio. 

We would like to keep the operating revenue and expenses separate from our personal stuff but want to file them along with our personal tax returns.

For example, they can finance up to 70% of the ARV meaning, if you have a perfect 70% deal (purchase price and rehab are withing 70%) they will cover those cost for you.you will still incur closing cost, taxes, and insurance cost though for example.True 100% financing (ZERO out of pocket) typically requires solid relationships with private lenders or a combination of hard money lender and private lenders.

If tax returns and DTI is an issue look at private institutional lending. 

It will increase tax rates on STRs from residential to commercial, so from 6% to 28%. 

Additionally, income from an active business inside of a retirement account will be subject to UBIT (unrelated business income tax), so be sure to consult with a qualified tax professional about the implications. 

And taxes? 

@Alanna ThomasIf you financed your property through a lender that escrows for your taxes and insurance - that stays in place regardless of what you do with the property (ie rent it out, etc).  

Buying a property for your mom that you have to put money into each month even after the mortgage is paid off (taxes, insurance, maintenance) will only work if you have significant appreciation to offset that, which is what you probably experienced in California (and I experienced in Canada). 

Property taxes are paid by parent A and parent B.The current deed states tenancy in common between parent A and parent B as married, and aunt A, unmarried woman.