As such the profit is taxed as ordinary income subject to self-employment tax. 

Its literally the exact same thing as a self pay tenant, except like Bob said just requires some paperwork and an inspection.

As such, the profits are taxes are ordinary income subject to self-employment tax. 

The costs on your vacation rental could be quite high, pushing any increased return far into the future. 

Your profile mentions that you ahve ownership in an LLC - WoodRich Hospitality Services LLC.If it is a multi-member LLC, there may be a separate partnership return required.If it is a services based business, there may be a benefit to operating it as an S-Corp to save on self-employment taxes.

Thus the reason why most people are much more successful on one platform versus another because as your booked rate increases so does your search ranking on that platform and then it continues to fuel itself. 

My partners and I have purchase 2 KMarts, 4 warehouses, 2 mills, and a grocery store that have been converted to Class A Climate Controlled self storage facilities across the southeast, currently $160 million in assets under management at stabilization.

Talk to the tenants and ask if there have been any problems with the gas as the usage has increased compared to last year.Without separate meters, have each unit pay 50% of the bill assuming the units are similar size. 

I just heard back from the bank and her response to my inquiry I emailed and said"I'm not finding any information that the adverse market refinance fee is still active, I've only found information to the contrary.Linked article from The Federal Housing Finance Agency mentioning the fee has been done away with as of August 1, 2021"Her response"You are correct, no hit for Cash out on primary residence, that has gone away but we do have adjusters for Loan to value and cash out loan to value along with credit score and 2-4 unit"This is problematic to me on so many levels, why was she willing to increase my interest rate based on her ignorance, who is watching and making sure these lenders are doing the right thing?

Keep in mind you are a real estate INVESTOR, not a Property collector.Second, you have to flip your cash from one property into the next, with each flip increasing the dollars you have to advance.