There are so many "solutions" out there for STR is it easy to get lost in the mess.Some of those are worthwhile, Pricelabs for instance.For the most part, I just use the built in apps. 

While some people got lucky for a few years with the AirBnB runup and BRRR, real estate for the most part is a get wealthy slowly game, not get rich quick.  

We were able to reach an agreement that was fair and favorable to both parties.

Probably not.....In my long career, I have seen a few attempts at homeowner painting....never have I seen even one come out with the quality of a professional paint job.If you absolutely do not have the $$ to pay a real painter, well then I guess you have to DIY....but you will regret it...This 100%.

You referred to the Real Estate Professional Status (REPS).

Accountants are in such demand, that the best are not even accepting clients half the time.The other problem I see often with accountants on here is that they specialize in larger investors, and have really high prices when you as a smaller investor do not need all the bells and whistles.Another thing I see is folks thinking they need to have a tax professional in their state.

Consult a qualified professional.

Selling an asset close to the end of the repayment plan might have fewer implications than selling earlier in the process.Capital Gains Tax: Regarding capital gains tax, the debtor should consult with a tax professional to understand the tax implications of the sale.

Readers are advised to seek professional advice.

It's best to review with a good RE attorney, potentially a business attorney, and your tax professional to make sure you're set up to avoid mistakes along the way.Also, discuss the ramifications of how it works with your lender (if there will be one) as not all lenders and loan programs are created equal when dealing with LLC's.