There are some key limitations that are important:Passive losses can only offset passive income.Up to $25,000 in passive rental losses may be deducted against non-passive income if the investor actively participates and their modified adjusted gross income is below $100,000.Unused passive losses are carried forward to future tax years.Here’s an IRS article that further discusses the rules: https://www.irs.gov/publications/p9251031 ExchangesThis strategy allows investors to defer capital gains tax when they sell a property if they invest the sale proceeds into a “like-kind” property.

Our strategy has evolved as markets and conditions have changed as well as our own place in life and we constantly check ourselves and make adjustments.

So not automatic at birth, but damn near close to it.  

Pete is tough.First, I would adjust your mindset.

So, if they push 100% of their payroll to the heloc, only drawing back what they need to pay other bills twice a month, the loan earns less interest, automatically pays the payment, and by default every other dollars goes to principle. 

all good options, all higher risk, and in no way are they automatic cash flow right now. 

If you do calculate make sure you add a adjustment after you file the tax return if needed.Can you do budgets, forecast? 

In that case, a premium can help discourage back-to-back bookings or at least bring in more revenue that could help with operational costs....While a premiumcan be put in place so that adjacent days are less attractive to guests, there's no guarantee that guests won't book these days, and your regular listing maximum price will still be in effect (though that can be adjusted with Date Specific Overrides).

My best piece of advice is to set up systems (property management service and automatic messaging).

They were quick to pay when repairs had to be done and their in-house adjusters were on point.