If the property is being sold for 400k (and I can afford the 20% down) but another 800k min needed for a complete renovation (my personal rough estimate), can I take out a traditional business loan to cover the rest, if I were to purchase in my LLC?

I would love to connect over coffee and learn more about your business!

Since this would be considered your course of business because it is not a one off, you should also look into things like using 3rd party servicers etc. to maintain compliance.If you want to do it right, then yes use underwriters to review the loans and treat it as if you were Wells Fargo originating a loan to yourself.

This property must be used in a trade or business and held longer than 1 year.

So, that gives you some exposure..Its normally not advisable to mix business lines. 

You do need enough cash to deal with emergencies that come along-that is part of the business. 

Hi all I'm looking to consult with a business attorney for company formation, and service agreements.

Biggest problem is that managing a Turo rental is more hands on than managing an STR, and is more difficult to do remotely.But if you can find a way to do that work, you've basically got two businesses where every customer for one is a free, super valuable, super targeted lead for the other, with the opportunity to offer a bundle discount to close the deal.

My MTR is suited for travel medical professionals and digital nomads so I market it only on Furnished Finder.

Hi BP pros,  I have some buy and hold rental property, some acreage and several lots that are good for building new SFR or multifamily.   If I build, I would like to sell or maybe hold them and pull the equity out to ...