Question: If you were to purchase a STR to close in November and the seller negotiated that the buyer must honor existing rentals with the current rental company/property management until January of 2025…. 1- does this negate the short-term rental loophole for the 2024 if you aren’t managing it yourself for these months in 2024?

Whats the loophole to offer compensation legally? 

Hey David, For your lake house, implementing a 7-day minimum could work well, especially if you aim to take advantage of the short-term rental tax benefits, such as the "short-term rental loophole."

I would guess that there are some loopholes here.

I don’t think it’s confusing, but I really didn’t think there was a loophole before.

The big, pressing, motivator in my choosing to start with STR is my recent learning about the "STR Tax Loophole" and especially "bonus depreciation."

Because it seems like whenever they pass things there are always loopholes left in there, some of which are attractive to a lot of people, and some of which are only attractive to some people.

Now, with fewer loopholes, we might actually see some stabilization in the market.

I have a STR loophole PDF with the requirements to get the deductions that my CPA gave me.

Means no STR loophole benefit.