Hoping to get some answers regarding LLCs: 1. We have one LLC that owns AND OPERATES our STR. First, I'm wondering if that's okay. All purchases go through that business, all rental income, etc. We're starting year 4 with this set-up. IF this is not ideal, how do we fix it? 2. We're about to purchase a business and the real estate the business occupies (2 separate purchases). The service business will rent the real estate. Each will have its own LLC. Can the RE part of this sit under a holding LLC along with the STR LLC?

What accounting software does everyone use? From time to time I see a new product pop up in this space and its tempting to be distracted learning new ideas. Clearly we can't pivot for every cool new software idea, so Im curious if folks could share their fav and why?

Thanks everyone that joined. Had a great time! Let me know what your key takeaways were below.https://www.loom.com/share/a32cad87be6c43d88a47472c1a8f3b47?sid=c2b8039b-3d96-4808-8303-8c66ecb4d321

Dear community I would like to get your thoughts regarding setting a single member LLC as the STR owner. I understand it helps with liability issues but it also increases complexity in terms bookkeeping, separate finances, state reporting, etc. Is there any other LLC benefit I’m not considering? Thanks