It's generally coinsidered that you don't need an LLC until/unless you have many properties.The advantages you may hear about - liability protection and tax savings - do not really exist.

If so, for them to stay they would have to cough up that extra money ...

The lender will want to see that the income generated by the property can cover the monthly principal, interest, taxes, insurance and HOA (if applicable).

I have read and watched a lot about it so I have surface understanding of how it works, but I feel that I do not really know much about details like tax implications , among other things that could influence my decision to start investing.

Basically they are a type of insurance and insurance companies make HUGE profits because they pay out MUCH LESS than they take in meaning that over the long term you will lose money with them.

So why would you pull your STR off the market for a year and make less money for a (now) tenant that you know nothing about...?

There are also additional costs of operating and maintaining an LLC, like separate bank accounts, annual report filings, tax filings, etc.2.

Towards the end of last year I used the BP tax pro finder and began working with a tax pro in January to file 2023 taxes and go over tax strategy.

The construction financing is a program that requires the builder to already own the lots. you need a money partners / equity partner.. the vertical loans will want first position.

Mortgage 15/1 arm at $3.375% with max 4% interest increase due 15 years from July 2015 (Aug 1, 2030).Current condo monthly maintenance fee : $1036 includes water, amenities (pool, tennis court, concierge, gym, sauna, community room with pool and ping pong, maintenance)Current monthly mortgage payment: $499 interest, $504 principal Monthly taxes and insurance: $459 monthly contents insurance: $38Past Assessments: $11k for building HVAC upgrades $8k for building updates and building reservescurrent market value $400k - $425kcurrent  monthly rental median: $3100-$3200monthly landlord insurance: $45I'm also trying to decide if I should rent or sell and invest elsewhere.Appreciate all insights.