To determine the correct treatment, consider the RV's permanence, utility connections, and business use.This post does not create a CPA-Client relationship.

The contract can be assigned to the LLC you create in the future.

Once you're ready, create a goal (e.g., "I will buy at least one single-family home, duplex, triplex, or fourplex before the end of 2019") and then do it.

Full stop.An investor can buy undervalued RE, do efficient improvements and create massive value. 

At that time, my friend encouraged me to get into real estate with the idea of creating passive income and wealth in future (via appreciation).

This can create opportunities to find deals that were much harder to come by during the recent boom years.

Not legal or tax advice, but I think every subject to purchase should include a wrap mortgage so that you create notes receivable income.

We put a sign on every property to: attract tenants, create brand awareness, and to help prevent scammers from using our properties as bait. 

That said, we have traveled a lot and stayed in wonderful Airbnbs over the years and have always dreamed of creating an incredible experience for someone visiting Minnesota with a short-term rental as well, so we are definitely open to that idea and have some great experience as to what we know would provide an exceptional short-term rental experience. 

Your PM will create new challenges for you that you will have to face.