In the past I have offered $500 cash for someone to move out - wanted to avoid the work of an eviction for me.

You can learn from the mistakes of others so you can avoid them yourself.

Nothing is different with Airbnb other than those hosting avail privately owned real estate for commercial purposes and only here its at the hosts’ personal expense to acquire the license and pay the tax.

Truthfully I think I'd like to run everything by a tax lawyer to make sure I'm taking advantage of everything I can, but haven't yet.

In looking back at my tax records, I did not “abandon” the property, I just had no rent to claim the next years, in 2021 and forward.

When looking at an LLC, or any entity structuring, there are two angles to consider: tax benefits and asset protection.I frequently see asset protection lawyers recommend an LLC for each rental property owned for liability purposes.

Most of the coast is unjust toward Landlords, higher taxes, and other negatives.

Domicile: WA State (income tax free)Property location (Texas): (income tax free)LT gains + Depreciation recapture ~ $300k on a $500k income property ~effective / average tax rate = 12% for past umpteen yrs (relatively low income, avoiding IRMAA and doing Roth rolls (no 'realized' income, just transferring from tIRA to Roth = vast majority of annual MAGI income)In the end (coming soon, ~17 yrs) ALL remaining estate will go to charities / Charitable Foundation / DAF.

But let's not forget the importance of cash flow, and the impact of federal state and local taxes on our assets and cash flow also. 

Is your DSCR ratio greater than 1-meaning are you cash flowing (according to the lender's criteria of mortgage, property taxes and insurance (and HOA) if applicable).