As others have said, take out a minimum $1M insurance policy that covers your liability (make sure it covers short-term rental activity) and you should be fine.DO keep your receipts/expenses separate - like @Jon Crosby said, open a dedicated checking account (you should be able to get a free one) and use it for your AirBNB income/expenses.  

sounds like you have dealt with all the sharks.. if it takes a really long time to evict someone in that state your best bet maybe to let it go to foreclosure and if it bids up which it could if your buyers are already offering you whats owed. they would not do that if there was not equity above whats owed. your mom would get the overage as long as there is not junior debt.also since her credit is trashed and if you can handle her housing.. she can just stay as long as possible until she gets evicted and then just walk out the door..

Today the selling realtor relisted the property on the MSL as 'Active' with no notice to us . 

They are actually fairly active. 

while I agree with everyone's points, and thanks again for your input, no one is answering the 50 dollar question....are we negatively affecting sales activities after the the clean up is done by offering it before the clean up is done

We are looking to buy a small apartment building next year, 20-40 units (or larger if we find the right property).Question - Can cost segregation deprecation be used to offset active income from his insurance business?  

Good evening BP family,I am active duty military moving out to Michigan and I am having trouble finding housing.

Not a tax advisor, but generally pretty simple.Once you take a member draw into your personal name (post-tax), you can do whatever you want with it.If you're buying RE in an LLC, I'd be sure to keep them in a separate LLC from your primary income earning activity that produced the cash.  

I will try to be somewhat active in the forums and post questions on top of questions, as I have no idea what I am doing! 

But having Boeing close by, I bet they have contractors that come in and need short term rentals.