Hey @Jackson Grantham, you need to get a CPA to help set this up.

Would love to set up a chat! 

My advice is to look them up on the Linebarger site when they are released on the 15th and pick out the ones that are of value.

There are likely more investors that will want the cash flow as a landlord, so in that case selling with some tenants, but also room for the investor to finish lease up to help their overall return would be beneficial.Back to my opening statement, investment sales brokers would be able to give you better guidance.

Given your situation, setting up an LLC is a solid choice for liability protection and managing your real estate activities.

@V Reddy First, setting up an LLC to invest in real estate is generally to limit personal liability and for asset protection (select "magnifying glass icon" in top-right corner and search "LLC", you'll get a lot of feedback).

I'm just trying to get started in investing and this is the first deal that has come up with an acquaintance. 

It is intended to be a high level report to give hosts & investors insight into STR data for US markets and help with insight on how to set up your property to stand out versus your competition.  

Partners like that you bring up contracts to correctly form partnerships. 

Catch up with missed bonus depreciation on your 2024 tax return (next year) using Form 3115.