This is tax free. 

@Brice Alef-Torrisi putting each property in its own LLC is usually overkill.Getting a bank account for each LLC is typically something you need to do to avoid "piercing of the LLC corporate veil" (actually depends on tax selection you made for LLC), but is also overkill.You haven't indicated how you are holding the deed for the latest property.If in your name or same LLC, you don't need a separate bank account.If in separate LLC, you can create a Master LLC, have each property LLC hire the Master LLC to manage their affairs, and just get a bank account for Master LLC.This is an opinion, not advice, so lookup CPA Frank Alcini in Troy for expert advice.

It links to our business bank account and our business credit card so come tax time, deductions should be easier.

Bonus - the interest on the loan is tax deductible!

Baselane has the added advantage of synching with your Schedule E you'll use at tax time to file your taxes.

Could VRBO users from Michigan provide some clarity about the topic of sales tax/lodging tax collection and payment to the state.

Somebody bought that house at Tax Sale.   

"Good about deductions" sounds a lot like "doesn't make enough money to be a homeowner", so he should keep renting from someone else, and you should do what you're going to do with the money and wisdom you earned.Of course I don't know your son, but I think this is too dicey and you are too close to the situation.  

I set up tax lien as a keyword alert so I get alerted when someone mentions them.

So, when Trump changes to no tax on tips I feel inclined to change my rental income structure.50% reduction in rent.Previous 50% made up from a mandatory nontaxable tip.