J
jrgrtx
New Member
Good afternoon all. I'm new here and quite honestly do not even know where to start. My primary residence is on 18 acres of land in a unique location that is high in tourism. There are a few AirBnB type cabins around us, not many, that stay rented year round. We are considering building 2 cabins on our property. Our property is actually the closest to this major tourist attraction of any properties in the area making it very attractive to visitors should we do this. My questions/concerns are this: If we do this, what tax implications to I have to my primary property? Do I create a corporation and separate the cabin properties from my primary residence which creates another layer of expense? How would this affect my primary homeowners insurance? Etc., Etc. Any advice or even direction on where to go get answers would be appreciated greatly.