I specialize in STR near Disney and can provide you with some valuable insights that will prove helpful.

With an S-corp you are required by the IRS to put yourself on payroll, pay reasonable compensation wage, and provide yourself a W-2 along with all other necessary payroll filings. 

If your property falls in this range let me know and I can provide more specific guidance. 

Regarding late rent, as soon as your state law and lease allow, you provide a letter stating that if the rent is not paid in full by X date, you will start eviction proceedings. 

In fact, numerous Tax Court cases have found in favor of the IRS when a taxpayer can’t document enough hours spent providing personal services to their rental real estate activities.Generally, material participation is determined separately for each rental property.

I am blessed with having a great credit score, and a line of credit high enough to provide people funds for these short transactions. 

BP provides alot of free information & there a litany of good books to read on the subject.

For example, states like Texas have no income tax but higher property taxes, which can impact your strategy.

I'm not trying to get in over my head on a project that will require more then I have to give (in time and knowledge), however my job does provide me some flexibility.

Annual increases in keeping with HUD's fair market rents build in a stable increase in revenue.Regular inspections from the local agency provides us with an excuse to get into the units to check for maintenance issues that often go unreported and cause more damage.We love the model.