@Francis Faucher most of our Canadian clients set up an LLC, which I beleive offers better tax options than a C-Corp.

Every single time you let a day laborer set their hourly rate, you can be damned sure it'll take them all day.  

Non-ower occupied you're limited to 2.There are a few of us in town that are here on BP.

I have finally set it in my mind and saved up enough money to rehab a older house given to me and my father by my grandfather when he passed.

Losses from AirBnB are considered nonpassive for the purposes of Passive loss limitations, as long as you can show "material participation."

Despite my continual reminding him that beside his suggestion being ridiculous that he was a PASSIVE investor / limited partner, he continued some form of this behavior.  

Thanks If your interested in setting the parameters for a project like this, shoot me a DM. 

Again, please Google to verify and you'll find a lot of RECENT national views due to last week's NFL Draft that set records for attendance and exposed many to the new reality of Detroit:)BTW: the city also recently beat out Miami for the highest amount of appreciation in the country. 

If I do pay myself, then when I need the money again to pay for upgrades and I transfer money from my personal back to my business, does that pierce the corporate veil (I have an LLC set up)?

This means that you will probably need to pay registration and filing fees in at least 2 states if you don’t buy CA property as a CA resident.Any lawsuits should be limited to the assets of the LLC and not your personal assets (assuming you run the LLC appropriately and the corporate veil is not pierced, some debate as to SMLLC).