I am considering listing my property with VRBO / AirBNB. My property is a lake property, where other comparable houses are making a nice profit.
One of my buddies is doing this, and he also has a separate LLC set up for additional rental income on a pontoon boat. I was considering that and for the use of a golf cart with the rental property.
Questions:
- What should I consider when forming an LLC to operate this rental property?
- What considerations should I make for my LLC owning both the property and additional equipment, like a golf cart?
- What considerations should I make when renting the property and ancilliary equipment with respect to my LLC?
- What considerations should I make when renting the property and ancilliary equipment with respect to VRBO or AirBnB?
