The significance of the historical trend would actually apply to myself since I am looking for stable cash flow and currently not too focussed on the appreciation.

So, I was also told not to purchase a property using my LLC as my wife and I have enough financial history to qualify for a conventional loan or a refinance and the LLC won't (I assume this mostly applies to buy and holds and refinancing as with flipping we will not be looking to refinance or go conventional).Most of the advice I have gotten about how to have our LLC taxed is to simply have it taxed as an LLC and file our taxes together.

I don't think SS and Medicare would apply to passive income.

I've heard of something similar as a delayed financing or something of that nature. 

There's several ways to apply this . 

Do all tenants going on the lease need apply and meet qualification standards?

Naturally, a recession hit, just after we moved in and landlord went BK.

For the income side, the way I would set it up is by creating an invoice for every booking (that is your accrual) and once you received the payment from Airbnb (that's the cash method), you can apply the payment to the invoice.

Is it supposed to be cashed by the bank and applied to the loan? 

You can buy houses perpetually at 5% down, with owner occupied interest rates, and no conventional loan limit (10 loan limit doesn’t apply if you are going to live in the house).