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

Where will you pay the least taxes.

Here are some things you may want to prepare an answer for so you're not caught off guard and so you don't reveal potentially sensitive info.Q: "are you going to kick me out?"

Make sure this is done in writing and done properly, so there is no legal missteps that allow them to stay.  

Anyone else experiencing the insane jump in taxes this year?

There is a large closet off the living room that I would imagine some would look at to be a very small bedroom however, this room does not have any windows so I do not believe it can be used as a bedroom. 

Some will cover real estate taxes, up to an annual 3% increase.  

But the income from the STR far surpasses that of the LTR, so it's a trade off.

My question is, would I owe the full 20% capital gains tax on that amount?

Hello,I recently closed on a BFD deal and looking for direction on correctly setting up journal entries, to make it easy at tax time.In a nutshell...We hold a mortgage on the property with a principal of $150k, 4.25%, 30yr amort (liability)The BFD sale price was $300k, with a $45 downpayment, $255k financed at 5.5%, 25yr amort, 3yr balloon (asset).All transactions are run through an escrow agent, and we just collect the net difference monthly (~$325 or so).