STR Cost Seg/Bonus Depreciation Buying with Partner & other non-RE related income ?'s

[Nick O.]

Previous post got deleted/moved by BP so apologies if you have already responded. Have some more complex questions was hoping to get some help with:

1. Is it possible to take advantage of the bonus depreciation if buying multiple STR properties with a business partner? If so what's the best way to structure or creative ways to structure if purchasing multiple homes?

2. Is this only useful for W2 income? Does other non-real estate related business income affect this?

3. If I'm understanding this correctly it mainly makes sense if you either plan on holding the property or doing a 1031 exchange in the future? Otherwise you have to pay back the years of depreciation not used if you sell?

4. If you have an existing property that you've been renting out long term and want to switch it over to an STR to take advantage of this, is the IRS using the full calendar year to avg out the 7 day avg stay?

5. If using co-host to help manage, do you just rotate several so you don't allow them to surpass your 100 hours?

Appreciate the help!