Need advice on STR in Scottsdale! ☀️

[Brady Ingledue]

Hi BP!

I have a 2bd/2bth condo in Scottsdale, AZ and would like to start Airbnb-ing the property. According to Airdna, the Scottsdale market is so-so at the moment. Also, my HOA only allows for 30+ day bookings. Is anybody currently doing anything similar in Scottsdale and have you had any success? I considered just doing an LTR, but according to all of the rent estimates that would put me at a negative cash flow so I thought STR might be the way to go.

Also, I would like to start an LLC for the unit. If I do minor renovations before I list it, are those tax-deductible?

Thank you in advance for any input!! 🙏

[Bruce Woodruff]

You can't do a STR if your HOA only allows 30+ day bookings, that would be a MTR. Check out Furnished Finders for MTRs.

You don't need an LLC for a small operation like yours, just a waste of money IMO. Just make sure that you have adequate liability Insurance and tell your Insurance Company that you are renting this out as a MTR/LTR/STR or whatever you end up doing.