If not, even though you are a re pro, losses are passive & deductions are limited.There are 7 scenarios that will qualify as material, and you only need to meet one:*500 hours*Substantially all participation*> 100 hrs and at least 1/2*Significant participation*5/10 years*Personal service activity w participation in last 3 years*Continuous participationTo materially participate, you must be involved in the operations of the activity on a regular, continuous, and substantial basis.Once you pass the pro test, the material participation often comes along for the ride.You can elect to aggregate all rental real estate for purposes of measuring material participation under Sec. 1.469-9(g).Your time spent on all your rental properties (STRs don't qualify) counts as one activity, making it easier to materially participate.In order to make a strong case with your CPA and the IRS you need to document your hours.Best practice is an hours log where you are as specific as possible.

•Local Regulations: Are there any important rules, taxes, or permit requirements for STRs in Gulf Shores that I should be aware of?

This is particularly beneficial in popular tourist areas where demand for short-term lodging is high.Flexibility: Owners can choose when to rent their property, allowing them to use it personally during off-peak times.Support for Local Tourism: STRs provide a unique lodging option for tourists, helping to boost the local economy by attracting visitors who may prefer a home-like stay over traditional hotels.Diversification for Investors: STRs provide real estate investors with an additional income stream, especially if they own properties in tourist-heavy areas.Cons:Strict Regulations and Higher Fees: San Antonio recently updated its STR regulations.

But all of these investments operate under highly regulated and constrained exemptions to securities law, and I have been told it is very difficult to do the above legally.

As you say, the concept is great and true, but the proper application in practice may not be as advertised.

Using a queen sheets is a very practical solution since the dimensions are close enough, though like you mentioned it will be a bit long on one side.

Seems like a really sound practice.

So he may consider this most of the basic functions of PM without actually being a PM (and thus not subject to regulation). 

Well I believe that the incoming administration will in the first few week find ways to reduce regulation and increase domestic energy production.  

Because honestly, at one point, I considered his offer and was afraid of the possibility that if I didn't accept I'd be taken to court and be responsible for putting my children on the street, and I can see those types of scare tactics and resulting emotions being enough to scare someone into complying with a transaction no matter how laden it is with misrepresentation, non disclosure and fraud it could be.Again, I don't know if I misunderstood the laws and regulations or not, I could be wrong.