At the end of the year we also take a distribution from the funds left in the account.

Unless maybe because he has those funds in his business account it’s considered an asset on his PFS until he has to pay it back? 

If the note has truly been administered between private parties the borrower will want to provide copies of the cancelled checks and a letter from the original note holder with a payment summary.

I just created a free account to check on one and you still don't get any info until you upgrade to "premium." 

We have had an STR for just under one year, but we have not qualified (per our accountant) for the STR loophole so we have not cost-seg'd it. 

The person who is doing our remodeling work doesn't accept our mode of money transfer(like zelle or bank to bank transfer) and requires checks.

@Yanting WangHave you checked with the builder with the interest rates that they are offering? 

Check out my personal favorite, Set For Life by Scott Trench , or The Total Money Makeover by Dave Ramsey.3.

You should get out a spreadsheet and add up any expenses you'll be paying and take this off the annual rent (taking account for vacancy).

@Mark C.You are going to create a tax and accounting nightmareYou will pay taxes in each state you own property (typically) aThus each LLC will need to file in that state then you roll up to you which just adds more expense to your tax returnsYou will end up spending thousands of dollars per year to get taxes done which will eat any cash flow from making it so complexKeep it simple