Thanks for your perspective

So from accounting perspective, an intangible asset is booked. 

As mentioned in a post or two already, LLCs can make your life very difficult, especially from the financing perspective.

Landlord may place signage on the Premises or show the Premises to perspective renters or buyers during the last thirty (30) days of occupancy or any time the property is listed for sale.

If they are a non-accredited investor this becomes even harder.Further, owning 10% of a 100 unit building isn't so dramatically different from a cashflow perspective than owning 100% of 10 units. 

We are looking for a CPA that works primarily with investors and know the ins and outs of STR’s from a tax perspective.

From a purchase loan perspective, with any conforming mortgage you are not going to be allowed to have your down payment be anything but guaranteed funds that are verified as yours or a gift from a family member.In other words, in order for this to legally work your parents would need to give you the funds required and a signed note saying they are not expecting repayment of the funds and that it is a gift.

We manage over 600 doors up and down the I-25 corridor and my perspective is really that "the market is the market." 

We can get very blinded quickly when we have nobody to give us perspective.

There is a definite benefit from a legal perspective to setting up an entity like this as you can move some of the liability of interacting to this entity rather than putting that liabilty on the owner directly.