Looking to use the short term rental loophole.If I use the short term rental loophole for my STR, I material participate and do a cost seg study.Can I take the value of the building in the first year as depreciation and write it off against my wife's income?

The key in my mind is disconnecting a STR from a "rental property" for tax purposes.  5) Why does this Loophole Exist? 

The STR loophole can help you offset other active income.

Im not personally a short term rental Investor but these are some of the benefits that may support your pursuit of scaling more rapidly Hi Zachary,Thanks for the insight, I’m planning on going to more of the Simplified meetups in the area, I went to one in Waltham in August but the last two I haven been out of town.I’ll have to look into the STR loophole a little more, that wasn’t one my radar previously. 

I assume the STR loophole is to to offset active W2 income.

From what you said it sounds like a short term rental could be a good move, and the tax benefits could be significant if you look into the short term rental tax loophole. 

The listing is currently visible as ready to be in service, and I've already received three bookings.My question is, will I still qualify for the short-term rental tax benefits or loopholes if I have blocked off dates until September 19th due to these repairs?

I’ve learned a lot about the tax loopholes for STRs in the U.S., such as the ability to offset W-2 income with rental losses using accelerated depreciation, but I’m unsure if the same strategies apply when dealing with foreign properties.

In turn one tenant that wanted to part from the group found an attorney to dig through the lease and find a loop hole which is frightening to me. 

But that leaves me asking: If the Indonesian government indeed doesn't want foreigners to own/control land in the country, why would they allow for such an obvious loophole?