This minimizes the income tax you pay not only within the first year, but future years until your income exceeds total renovation expenses.

If you were to rent it - right now maybe $2500/month - does that pay for your expenses + profit? 

I do see alot of people searching for STR'S with private pools.I also see people buying multiple pool cabins, so they absolutely seem to be paying off.Many of these are indoor heated pools that can be used year round.

You can always refinance and get the equity out without paying taxes on the money if that's what you want. 

Is there any way of having that property owned by an out of state LLC and not paying the franchise tax for just one property? 

I would like to know by what process can I get a Special Warranty Title converted to a General Warranty title, if I pay off the liens or second mortgages ?

The tenants pay one application fee and can use that same application for as many rentals as they want for up to 30 days. 

I understand that this money is borrowed money, so I dont want to have it locked in a deal for a long time and pay the interest payments.

A CD paying at 5%, OR Real Estate appreciating at 5%???? 

That means you can never take cash out again unless you pay it off.