If you take the time to gain clarity on those items, you should get a pretty good handle on what your experience is going to be like.The purpose of investing passively is to leverage the sponsor's time, expertise, and ability to source great deals, but if the experience is going to cause you to lose sleep at night, any return you might make simply will not be worth it.All the best,Jack

So now literally talking about 1 month to close it and lenders many not accepting closing by years end as pushing newer applications and loans early in process to close next year.Maybe you could try short term owner finance to close the sale out this year if it is for tax purposes and then simultaneously run the loan process and take out the seller finance note once the lender loan comes into place.No legal or tax advice given.  

I am not sure why, probably  for tax purposes

That being said, what is the purpose of your LLC and would you feel more comfortable having an umbrella insurance policy to cover your liability instead? 

There are time costs, systems, and marketing costs required for leasing the property AND, if promoted on the MLS, they also offer a shared commission to any licensed Realtor who represents the tenant, so the fee is split between the landlord and tenant brokers.

Is there a certain amount of time I need to live there for the loan purposes?

What's your address.....errr for business purposes only of course!!

That is tax value of the structure for depreciation purposes.

It seems the entire purpose of staying at a lake is to enjoy the lake.

For that purpose, we are extremely interested in learning about your needs and what types of specific data and insights you would love to see us incorporate!