My goal is to own some land so we have somewhere to come back to (my wife and I currently are nomadic) and also potentially short term rentals while away (rent to other RVers who need a spot).now my question: Would it be best to pay this for cash outright as 1 of our first investments?

Did you know that short-term rentals only account for 15% of the stays for travelers?

Isn't that one of the lead generation techniques? 

Also, many companies require a Lead Safe Certification for multi-family dwellings.  

Hey @Ingo Bothe, Indeed STR can give great tax benefits for folks looking to do the "short term rental loophole". 

That is a very high income so I would definitely look to acquire some short term rentals to supercharge the cash flow.  

Less dependence on online travel agencies (OTAs) like Airbnb and VRBO, more people booking directly with you leads to increased profits.

Look into KBKG for cost seg, they also have an online calculator, but a full manual study is far better.I'm not a CPA, but I'll check you :) There are some different rules specifically with regards to Short Term Rentals.

If you decide to proceed, record everything. 3) Many ways to go about this but you should consult an attorney before even going over there to review your options but you will likely have 2 main options all of which lead to him moving out: - You can go it the nice way and offer keys for cash, you pay him (an amount less than you would pay for legal fees) to move out; the contigencies are that he must move out all of his belongings, sign a termination, and you pay him on the day he leaves at the door as he is moving out (you then change the locks) - he's out and you have a signed termination, the end. - You can go it the more heavy handed way and you will likley be able to file for an emergency eviction becuase your property is being destroyed, to do this you should take photos of the damages during your walk-through. 

I have a short list of items needed to move forward such as contract signed, W9, launch ready checklist and I need to be added to the homeowners insurance policy as "other insured".