You also need a tax professional on the project to make certain you obtain every possible, available benefit from the certification.

I don't want to have to open another LLC and file taxes in another state for business. 

We are part of Tony Robinson's Alpha Host Academy and it covers everything STR related (i.e. taxes, arbitrage, cohosting, buying, operating, etc.).

I use a PM because…I don’t want to get sued for a fair housing violationI don’t have time to keep up on law changesI have no real idea of what a property could rent for compared to someone with 1000+ rentals under management.I’m too nice to charge late fees, or increase rent maximum amount each year. 

-- was looking at condos- crazy HOA fees there.

I am talking about current operating assets: what did they underwrite for rent, other income, RUBs, taxes, maintenance, turn over, etc.  

Thinking through the tax implications, how that changes each deals numbers, and how we'd structure those payments has my head spinning.  

But what are the tax implications of such a situation?

I wouldn’t sell most of my properties for double the tax assessed value.

Taxes can be high depending on what you do with the property after it's built.