Here's my comment on some who had posted in a different forum category about Kris Krohn:https://www.biggerpockets.com/...

Whether you pay off the properties or keep them, don't forget that you can do a cost segregation study and use bonus deprecation to off set taxes.

Has anyone filed taxes yet as a W-2 employee who owns only STR, rents for on average less than 7 days per rental (STR), and materially participates (usually requires 100 hours or more in a year and more than anyone else)I’ve heard there are amazing tax benefits if you fall under all of the categories.

You can consider paying him more for his exclusive time and give you a bonus for completing ahead of schedule. 

It's no different than any other deal using other people's money (private money, hard money, etc) which I would imagine falls under this category you do not endorse.I've bought many things with credit (cards or loans, all the same to me) and flipped them for double or triple what they cost me.

You can add your own categories in QB so you can account for all that stuff. 

If I purchased and placed a property in service in 2023 and I have no need for the bonus depreciation on my 2023 taxes, can I claim bonus depreciation on the property for 2024 taxes?

Hi Everyone,If you invest in a syndication using funds from your self directed traditional IRA can you take advantage of bonus depreciation to offset any taxable gains when you withdraw or convert to a Roth IRA? 

Thanks to the Cost Segregation Study, the property investors were able to reclassify the property into shorter useful life categories resulting in first year depreciation of $203,600.The use of the accelerated depreciation strategy helps real estate investors to reduce the tax liability immediately which therefore increases their bottom line due to the offsetting of income.

For future years, we probably wouldn't meet the 500 hours test (though we still do participate a significant amount as we periodically re-stock supplies at the place, handle most maintenance issues due to shortage of workers in the town, and monitor sensors during guest stays - leak sensors/heat/stove).Specific Questions on Depreciation:Assuming that I have the qualifications for non-passive activity, I then have some questions on bonus depreciation and related stuff.5) It is my understanding that Qualified Improvement Property (QIP) bonus depreciation is probably not useful for me because I did most of the renovations prior to placing the property in-service (save for a few things).