My PPR note fund investment is a little different in that you can buy some notes from PPR and pay for the PPR notes using your Fund investment. 

There is a lot of public info out there on their funds and how they are (not) performing.  

Do you have the funds to carry the payments if no one is renting it ? 

Or can you still run everything through your personal return (just want to make sure that I can deduct things such as HOA fees which I can do if it is a rental).2) If I do decide to run everything thru my personal tax return (save on LLC fees), should I at the least set up a separate bank account to track costs separately?

I typically don't comment on other's businesses unless I know from personal experience.

Hi Bruce, i'll start by saying i'm a mortgage person, so please understand the context in which my response is coming from. you'd need to create CC&Rs/bylaws and establish an HOA in order to do this.

Quote from @Jules Aton: When I did a seller finance deal years ago on what would become a long term rental I bankrolled the rehab funds then re-financed when it was finished.

It's led to incredibly high occupancy rate in the off-season, but I'd rather have a slightly lower occupancy rate in order to reduce wear and tear and leave some weekends open for personal use.I'm at a loss on what to do about this.

I want to make sure I’m as prepared as possible before diving in.Thanks in advance for any advice or personal experiences you can share!

I have purchased 3 STRs personally in the last 18 months and have closed on at least 25 for clients in the past 12 months.