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?

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

Instead of receiving a tax refund in the year we completed the Cost Segregation Study, we converted an IRA to Roth and "paid" the taxes due with the refund owed. Any generic thoughts on this as a tax strategy combined with STR taxes? (We tend to believe in tax-diversification of post-retirement income as well as diversification of investing in both traditional markets and businesses.) Thanks! @Ryan Bakke, CPA

How, exactly, are y'all getting at least 100 hours of time into more than one property? One has not been tough. We're working on purchasing property two. What's the secret? What advice do you have? What things are you logging that people may not think they CAN log as time against the property? I'm not able to get REPS. No plans to do it any time soon, either.