Additionally, I'm based in Michigan, and I would like to know if anyone in the community is familiar with companies or professionals in Michigan who can assist in the process of forming an LLC and managing the legal aspects of transitioning Airbnb properties.Any insights or experiences you can share would be immensely helpful as I navigate this potential transition.

The new property's depreciation is based on its value, not what you had in the old one. 

Once you have that its just a decision based on numbers. 

(searching "home inspectors association" will give you all of these as top results), and then searching for a home inspector based on location.

Since then it has been a long process of renovations, dealing with lack of communication from contractors and repairs in the unit that is currently rented.  

For heavy tourists markets where there are several STR management companies who have websites, most direct booking individual websites will not even be able to compete with that.But if you work on your social media presence, social media ads, and routing return guest through your direct booking website, you are building a base of clientele which makes you less dependent on the whims and algorithm changes that the big OTAs have.  

Or worse yet you don't have a lender and find out it foreclosed because you didn't pay them $75 once.I would just be honest with yourself about being realistic about life happening and forgetting about it and make a redemption decision based on that.

One of the things I've noticed is that the flooring and underlayment options usually give an STC rating based on their use on 8" concrete subfloors.Part of the rating given is being attributed based on what type of subfloor it is and would be a lower rating than with the plywood subfloors.

Approval is based on the company applicant; the individual occupants are simply screened for criminal and I want to make sure I have their contact information for any issues regarding the rental.I hope that helps! 

I AM WELL AWARE THAT IT IS ILLEGAL for a LANDLORD to deny a tenant based on their marital status.