We are finding different things online and we want to make sure we are set up for success when it comes to being protected.

Set aside funds each year to cover your property tax obligations.

Taking the time to get everything in order will set you up for a successful and secure investment venture.

Cash flow, CoC-return, limited capital, etc.

If I open the Stessa account and the linked high yield Cash Management Account in the name of my checkbook LLC does anyone see a problem with this set up if I left a good portion of the rental income to sit in that high yield account?

I wanted to put the property into an LLC or Corp to limit liabilities once converted into a short term rental and wanted to retain to retain the 121 exclusion benefit. there is probably $350k+ of potential capital gains on the property. 

They would need to charge an upfront set up cost.

There are laws protecting the sober living house from "nimby's" but you might be limited to how many unrelated people can live under one roof.   

My initial hunch is that there may be extremely limited options of what can be built, and a likelihood of nothing being allowed. 

Do I have any SALT limitations that are impacted since these are not owned by an LLC or do the SALT limitations only apply to primary residences?