There's also a distinction between a fair market value and a appraised value.

I have found a few samples online, but some are very distinct than others.   

@Marc Winter You make an excellent point on the distinction between repairs and upgrades as well as the time necessary to make them.

Why has Congress in its wisdom decided to make the distinction between active and passive losses?

Today the rental market is strong and expects to continue unless the market makes a very distinct change.  

Yes, you make that distinction in the gift tax return on form 709z 

One of your biggest potential issues may be insurance if you are trying to use one property for two distinctly different ventures (LTR vs STR).

There may be important distinctions with local and state regulations as well as how the IRS treats the income and taxation of the property which requires different tax strategies.

The distinction from Section 8 being that you need to set aside at least 25% of the units for Section 811 candidates, whom are those that have particular recognized disabilities, but are otherwise suitable for general quarters living.I'm on the lookout for exactly this hybrid mix to either build new, or acquire in the B-C range.I suppose it's an avenue not highly sought after on here, but just putting it out there.

The distinction between business v personal credit card is in how they are used, not how they are set up.Q: Will the fact that you may be making personal purchases, such as buying a movie ticket, etc. matter as long as you only claim the business expenses?