So for the first property which will cost over $1 mil to construct, there will be stacked loans, essentially $280K will come from loan assistance program,( the name is not correct but the same idea).

I’d recommend starting with rental arbitrage to get your feet wet and generate some positive cash flow.While I haven’t personally done rental arbitrage, some of my employees have, and they found it to be profitable.However, as a long-term strategy, you’re essentially building your castle on someone else’s land.

Some design and amenity ideas:+ Welcoming living space with plush seating for family hangouts+ Coffee bar or stocked tea station for early mornings before campus events+ Dining table or breakfast nook perfect for family meals+ Dedicated workspace for parents who need to check in on workFor sports fans, tap into their game-day energy and make your STR the go-to spot for a fun, convenient stay:+ Big, comfortable seating & a great TV setup (think oversized couch, streaming sports channels)+ Game-day essentials like a mini fridge stocked with game-day snacks/drinks+ Outdoor space with a grill & seating for pre- or post-game gatherings+ Good parking (sports fans hate scrambling)+ Team spirit decor touches (subtle, not tacky—think framed sports prints, not full-on mascot murals)Your design & reviews will do most of the marketing but to market directly to these guests:🎯 List your STR on sites where parents and alumni book (if allowed)🎯 Partner with local businesses—coffee shops, sports bars, or tailgate services—where your ideal guests hang out🎯 Optimize your listing title and description with phrases like “Perfect for Visiting Parents & College Game Days”🎯 Time any discounts/promotions around major campus events—homecoming, graduation, big rivalry gamesThink of it this way, you’re not just offering a place to stay—you’re creating an experience they’ll want to book again and again.

It's essential to discuss all these options with a mortgage broker or financial advisor to ensure the best approach for your long-term goals.

Maintain detailed records to substantiate deductions for materials, labor, and expenses, which can significantly reduce taxable income.While an S-Corp provides tax savings, it also requires payroll management and compliance with formalities, making it essential to stay organized or consult a tax professional for ongoing compliance.This post does not create a CPA-Client relationship.

This ensures compliance and may help with future tax benefits.Kansas: File a resident return, including the Missouri loss, which can offset other income in Kansas.Even though no Missouri tax is due, reporting the loss properly in both states is essential.

Because you are essentially buying into an existing business, the sale of it could generate a disproportionate amount of tax for you given your time in this deal.

Essentially tweaking in PL I imagine is the same, adjusting for the supply side where the demand side is usually adjusted automatically by the software.

So essentially, the result is the same as a “net listing”? 

While an LLC can offer liability protection and tax benefits, it’s not essential for a single property—personal liability insurance and an umbrella policy may suffice for now.