And it takes very little effort to gather since you have to do it anyway to prepare taxes. 

Domicile: WA State (income tax free)Property location (Texas): (income tax free)LT gains + Depreciation recapture ~ $300k on a $500k income property ~effective / average tax rate = 12% for past umpteen yrs (relatively low income, avoiding IRMAA and doing Roth rolls (no 'realized' income, just transferring from tIRA to Roth = vast majority of annual MAGI income)In the end (coming soon, ~17 yrs) ALL remaining estate will go to charities / Charitable Foundation / DAF.

Thanks Chris.Even if it isn't as economical as the days prior to dodd frank, can an MLO operate independently without being tied to a mortgage bank or lender?

Prior to the move-in we completed background checks, references etc and did a walk though.

If so, would this still cause issue with the S-Corp tax rules?

The slightly confusing part is the Business License Tax Certificate.

It isn't always 100% tax efficient to do this, depending on circumstance)

Is there anything different in terms of STR tax loophole if I do STR by the rooms?

Research the prior owner, property records, permits, etc.

Hopefully you have access to the cash lined up prior to making the offer.