But as mentioned even this plan will probably double your interest expenses. 

Median sales of houses sold in the US in 2023 is 13% less expensive than in 2020.

I would recommend LLC with its own bank account to keep expenses and income separate.

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Paying down your mortgage and owning an asset that will appreciate over the long term.If you are paying close to what you pay in rent to cover PITI and expenses then owning a house is a much better financial decision than renting.

My understanding is that if you provide 'hotel-like' services, provide sheets and towels, and your average stay is less than 7 days, you can use Sch C instead of Sch E like most rentals.You got good advice here, but definitely do not trust what your Tax guy says, because they just don't know.

But then over time, work towards a nicer property than the competition, and higher rates, even at the expense of a little occupancy.  

Effectively, record every expense, Home Depot run, check written for labor.  

In particular, your schedule E where you report income and expenses.

Studio that operates as a Short-Term Rental (STR) generating an average of $2,200 per month.Our ADU tenant has been leasing from us for the past 4 years, and we have maintained the rental rate without any increases.