Here is what the IRS says on the subject: Election for Husband and Wife Unincorporated Businesses A business owned and operated by the spouses through a limited liability company does not qualify for the election Only businesses that are owned and operated by spouses as co-owners (and not in the name of a state law entity) qualify for the election.

I can't help on the mastermind front, but I did grow up in Central IL and can relate to the "something goes wrong with a property, now I'm spiraling, and this was all a terrible idea" feeling.

However we’re not married to that idea either.Our goals:1.

Would love to hear some other ideas. 

And then, with every new program manager we get it seems there is a new idea about what color scheme will be better to keep the clients calm so we repaint them walls at least with each New management change that occurs.

Hence the idea of a couple more properties, however, with much more units than I currently have per building. 

Feel free to reach out if you want to bounce ideas off someone who’s also getting their feet wet!

That will give you a good idea of how it will go.Plus you can go over to https://awning.com/airbnb-estimator and put in some addresses and see the local competition.

I'd love to connect and share ideas if you're interested.

We liked the idea of partnership on a bigger project with the specific MTR strategy in order to increase NOI and exit in 3-5 years.