I will not comment as to the tax laws and underlying rules - that is a discussion you can have with your tax advisor who presumably you are paying to help you.What I will do is provide practical and business guidance on tracking time.Firstly, there are apps available that can assist with time tracking where you can specifically detail your time, who you met with, etc.

As more people placed more properties in STR inventory, and as more municipalities taxed and regulated the industry, the profitability of the overall industry has reverted to a much more aligned (lower) risk adjusted return.  

>>For purposes of taxes, consult with a CPA to confirm this would work for your situation, but you could have the LLC be treated as a "disregarded entity" and thus, even if you and your wife are members, any profits/losses would "disregard" the LLC and go directly on your personal returns. 

I then would have my tax cpa enter in or do it after discussing tax based items (depreciation- MACRS, reserves, year end accruals, reserves, etc.).

It's going to offer Strong economic growth, Appreciation (especially in DFW), Tax advantages (no state income tax), and a Growing population, including infrastructure and amenities. 

In mid February, many tenants get caught up when they start getting their income tax refunds (depending how fast they file).Income tax refunds also give tenants the needed funds for first month of rent + security deposit, so they can move.Check out this graph, which was created from tens of thousands of data points:Regarding your property, suggest the following:1) Where specifically is it being advertised?

There are also additional costs of operating and maintaining an LLC, like separate bank accounts, annual report filings, tax filings, etc.2.

If you provide any kind of substantial services like catering, car service, etc you will change you tax situation and no longer can file under Schedule E.

You are looking at the rent of $2,000 and mortgage (Loan, Insurance, and Taxes) of $18000 and thinking you have $200 cash-flow.

So obviously being in foreclosure, absentee owner, tax lien or any of such "distress" doesn't make you motivated.So what you need to ask yourself is "how do these software determine who or what is a motivated seller right?