Just trying to figure out what is your strategy and part of forming a company is having right people doing the right things.

I understand I could go a different route and purchase rentals but I'm more interested in what people think of this strategy, to pay down my primary mortgage.

There are far more important items you should be prioritizing but first so I am clear on the strategy, it sounds like the business plan is to go under contract, renovate the building and then purchase the building once renovated and stabilized?

I felt i had to tell my story to explain why i want even poor examples of extra protection and why i over always go overboard on Insurance, way more coverage than needed and hardly ever used .

Given the timeline and the nature of these expenses, I'd appreciate any insights or advice from those familiar with tax regulations in such situations.Additionally, I'd like to know if I can claim depreciation, mortgage interest, homeowner's insurance, utilities, HOA dues, and other expenses associated with the rental units of my home from 09/08/2023 to 12/31/2023.

Who is on the insurance, who gets to decide when to sell, when to cut your losses?

Some of the members/partners may not be eligible to use the STR strategy if the other members are material participants. 

Electricity, water, property insurance while you own the house... that could be a couple of thousand dollars.  

As far as your strategy you want to move forward with, I would recommend find out exactly what’s allowed  for your parcel, and then strategize based on your local market.

., if cash flow is your primary focus, you must get creative with your strategy.