Here is their summary of the bills:  would allow counties to phase out transient accommodation rentals as a type of residential use and asserts that any future "residential" use shall not include transient accommodations.

Is this a scenario where it is technically not allowed but many people do it?

Happy to chat, I implement MTR and I allow my Charlotte property to be arbitraged (love it!)

Section 121 allows a taxpayer to exclude $250,000 of gain($500,000 if married filing) joint on the sale of a personal residence that was lived in for 2 out of the last 5 years.

This gets complicated with two sets of participation rules for limited partners and individual taxpayers.

Platforms like Airbnb and VRBO allow investors to capitalize on the city's influx of visitors by renting out properties on a nightly or weekly basis.

Hi Salvatore,If you don't transfer the title and the mortgage to the LLC and do all the paperwork to show your LLC instead of your name, then you are still liable for any issue that happens to your tenant if they want to sue you.Mortgage companies in general allow to transfer to an LLC after one or two years.As Bill's mentioned, don't commingle funds is key as well, as soon as an LLC is open you have to open an LLC business account and everything towards the LLC goes there.

And even though virtually every sponsor agreement allows me to share investment information with others who might be advising me on it (especially when club members are bound by an NDA), I still ask the sponsor if I can share it, because it's a test.

I think the main thing is do you have a book keeping system in place that allows you to efficiently break out all income and expense from the triplex, especially come tax time? 

It allows you to front-load depreciation way faster than the standard 39 year straight line.