No, you cannot create phantom losses this way.Some additional issues that we have not addressed:- holding rentals inside an S-corp has many tax disadvantages- you will likely jeopardize your $250k/$500k capital gain exclusion for homesteads- you will lose asset protection afforded to personal residences by most states- you will lose your homestead exemption for local property tax - your insurance will have to change from owner-occupied to rental, i.e. go up- and there's moreConclusion: there're reasons why nobody is doing this clever "strategy" but A+ for trying.

These two contractors may not like that area, or just had one bad experience, so it would be great if you could explore more of what other experiences people had/have in the city. 

I believe this law presents a great opportunity—not only as a sustainable business model but also as a way to help people in need.However, I have no experience in real estate or foreclosure auctions.

Here's an article with additional FAQs on cost segregation studies that you may find helpful.

And it took me some big learning experiences, but loved the road to where I am now.

If you do call them best case scenario you get the listing, sell their home and end up with some additional buyer clients that did not end up buying this particular house.

In addition to Wishing Well Hills, Decatur, Brookwood, and Smyrna/Marietta, you might also look into Powder Springs, Austell, and parts of Douglasville, as they offer more affordable options with solid rental markets.

Additionally, I know the Waivo product for STR covers intentional and accidental damages.

However, since you live in California, you may still be required to register the LLC there as a 'foreign entity,' which can come with additional costs and regulations.For taxes, California has strict rules on taxing out-of-state income, so you’ll likely need to report your Oregon rental income on both your Oregon and California tax returns.

I’d appreciate any additional suggestions you might have!