I understand their kids have special needs, but that isn't your responsibility.

Verifying last 2 years of rental history and income extremely important to find the “best of the worst”.Make sure you understand the Class of properties you are looking at and the corresponding results to expect.What else can we assist you with?

Prorated taxes (I understand this part)what other items that i should see on my closing bill?

But you also really need to understand the market and how to operate in it.

Educate yourself and prepare for the worst-case scenario before the problem actually occurs.Here's a resource: https://www.kickemoutquick.com/MEMPHIS_TENNESSEE_EVICTION_PR...Read up on that, understand it, and then start taking action.

I can help you understand the market. 

So, do I understand correctly that it is possible to spread it over two years and then just use the property as a permanent residence?

FLLC2 offers charging order protection from liability coming from my wife and I.I understand piercing of the veil arguments.

Branson being a very high tourism area, I believe, understands the need and importance for STR.

If you have a relatively new FNMA mortgage, you can usually Quit Claim to a single-member LLC without violating the clause.Any other mortgage probably won't allow, so you should understand the risks if you proceed.