If you hire someone typically they are the ones providing this information, but if someone is paying you, then yes they need this information for tax purposes.BTW - I would say your SS# has been hacked so many times and is on the black market already this is why we monitor ours through other parties or just lock it down at experian and other agencies if you are concerned about it.

With this in mind, if you intend to leverage short-term debt (hard money), it's even more vital that your underwriting is thorough and that you have the correct systems in place to tackle potential issues.

I’ve been a real estate investor since 2015, owning and managing multiple multifamily properties and running a short-term rental business in Cape Cod, the Lakes Region of NH, and the Berkshires.

I am from out of state so wanted less maintenance in the short term while I build my portfolio and grow to the point where I am comfortable hiring a manager!   

I'm interested in flipping, and short-term rentals at the moment to build good cash flow, then pivot into more of a buy-and-hold/appreciation play 10-15 years from now.

We have a lot of owners convert to Mid Term or Long Term rentals.  

@Ryan Johnston If your rental is costing you $75–$150 per month, weigh the long-term appreciation potential against the ongoing losses.

But I see people turning long term or highly appreciated primaries in to rentals.

I would recommend that you don't ignore it; repair the drywall, monitor it and see if the drywall cracks in the same locations again.

As a starting point: -If they work full time and make $700k a year -Don't want to or can't spend time self managing a short-term rental -Don't have a spouse who wants to take the lead on managing the rentals They are likely not going to directly reduce their taxable income with real estate year-to-year.