Anthony thanks for taking the time to respond to my post the cash flow issue will not be resolved until my brother who lives at the house is not able to care for himself at that point then I will have a decision to make on this property, my thoughts were can I consider the house a business expense for tax purposes or do I need to consider it as personal property for the taxes.

I started flipping houses through my LLC last year and don't trust continuing to file my own taxes.

Then I paid the taxes and got the 10k back that I had paid for the tax lien. 

Malibu allows it but requires a 15% "hotel tax" on the gross revenue.I would recommend looking out of state or underwrite the property as a long term rental in the event laws change.

Punta Cana does offer the advantage of not having to pay taxes, but keep in mind it receives less tourism compared to Mexico.In Tulum, the market is becoming competitive, especially in standard studio, 1 & 2 bedrooms.

In my opinion, I wouldn't worry as much about cash flow and just make sure your PITI (principal interest tax & insurance) less rental income is less than you would pay for rent in that particular area. 

Check Alabama posts.  2nd lowest property taxes in the nation behind Hawaii.

(Ie defer the balance until a future date for taxation).I am in Indiana and our LLC is an Illinois Series capable one.

.- You will now have to file a tax return for your LLC and these can get expensive.- You might need to pay an annual fee depending on your state- When you pass away does the basis reset when your kids receive it as an inheritance?

We would like to take the equity and invest in a short term for some tax benefits.