Quote from @Jordan Rodriguez: yes, the mortgage is under my llc and I'm the only sole proprietorCash the check in your business account  

Keep in mind that there are two roles you play as a STR owner: that of a RE investor and that of a business owner.

You are taking a business risk by signing a contract with them. 

Getting into business with family only ends in one of two ways, and its often times not positive.

Schedule E typically caters to rental income and certain types of passive income, while Schedule C is tailored for reporting profits and losses from a business or self-employment. 

Which will bring plenty of other investors and general business to the area.

I’ll reach out to some hard money lenders and definitely look into the FHA 203k Another option that I was recommended by my hard money lender today- was to open a business credit card for smaller loan amounts.

According to passive activity loss rules, every business is obligated to adhere to specific criteria, especially when it comes to short-term rentals.

Hey everyone, any thoughts on taking out a business loan for buying your first rental property?

Short-Term Rentals:With its growing tourism industry and thriving business sector, Charlotte is a hotspot for short-term rental properties.