*none of this post is intended to be legal or professional advice and does not create an attorney-client or cpa-client relationship.

I know its not the "legally correct " answer but if its junk I might just get a dumpster.

So far I have 1099, Advertising & Marketing, bank charges & Fees, Capital Expenses (for remodels) Car & Truck, Contractor, depreciation, donations, Employee benefits, insurance, interest paid, inventory assets, job supplies, legal &professional services, loans/points, meals & entertainment, office expenses, Rent & lease, repairs & maintenance, salaries & wages, taxes & licenses travel, utilities.

The contractor should have access to roofers, framers, concrete, pool, plumbers, electrical, tile, sheetrock, kitchen & bathroom installers, painters etc and should pull the permits.

They are your guide book to make sure you stay legal.

This will help you determine the exact amount of equity after all lender and legal fees taken into account. after you get the payoff letter, find out repair costs and ARV.

On my other home I would like to start the house should be permitted and looking for licensed contractors that can give a fair bid and look for long term work.  

Hard to believe they go for over a million.Do you plan to make it legal, and getting a C/O.

Yes LLC is a "coverage" by definition of a legal entity which is not you, and it doesn't matter if the liability is triggered by an STR guest, an LTR tenant or a handyman working there etc.

Starting with legalities is important, having a good Real Estate contract is critical in my opinion.