All Forum Posts by: Adam M Sommer

Thanks for the recommendations on self-managing.  My worry is this unit is 3 hours away, so it will be difficult to deal with on-site problems.  How do other manage that remotely?

I'm a newbie to STRs (I have LTRs) and looking to start in Branson (3 hours from home).  I am debating self-managing vs using a PM, and am struggling to determine the tax impact of that decision.

I know Sch E is where I'll report, but for the determination between passive & non-passive I am struggling to determine the impact of using a PM.  Does using a PM automatically make this passive?

I do plan, prior to placing in service, to spend a few weeks furnishing & fixing the unit up, and will hit 100 hours (documented).  Not sure if that matters or not.

Also, certainly would welcome any recommendations for a Branson area PM.  Thanks!

The H&R Block flow chart is super useful - thank you for sharing.

I am debating using a PM for my next STR. Would using a PM vs self-manage mean I have to report as passive? Is there a way to be non-passive with a PM managing the unit?

e.g., the first month I own the unit I will be working on it (over 100 hours for sure), painting, buying & placing furniture & finishings, getting permits and inspections etc....and then hand over to the PM.  

I have very large passive carry-overs from real estate that I'd love to realize, and just need to get to that active professional to do so.  Just not sure if using a PM will mess that up...