You are the member of the LLC not an s corp or a c corp which owns the LLC - which is more traditional in syndications and other setupsSo that’s the confusing thing…They list as not exempt:1) corporations2) LLCs where one member is a corporationI feel like item 1 would disqualify ALL LLCs (since they are corporations).

Make sure your lease stipulates its a "shared property" and list all the rules to make sure they toe the line, garbage, one vehicle(where parked), noise, no personal items in yard, everything you can think of or choose/whatever.

It's always a plus when you can get your property valuation increased and the tenant pays for the new item, just so long as your downside risk is mitigated, too.Good luck!

It's great to ask these questions in the forums to get a feel for things but it's not a substitute for getting "official" advice from an REI-savvy tax pro that you have hired.Regarding what to deduct versus what to capitalize (and depreciate over time), your tax pro can walk you through that for each line item.

Do you have a property in mind that I can model for you?

Do you cover items such as lawn maintenance, extermination, alarm and cable services?

I didnt see my tax bill showing a line item.

Their model is similar to most syndicators right now, underwriting a cash out refi. 

Quote from @Mathew Fuller: Hello BPLooking to network with investors experienced with the BRRRR model in Cleveland metro area.

COSTS:  I would look at any-and-all things needed to run an STR including items that are often done by owners--for example, property management.