Yes, you can take advantage of it through a simple LLC or partnership agreement. 2.

It involves using Section 179 or bonus depreciation, and I would not DIY this project, as distinction between repairs and capital improvements is one of the most confusing areas of the tax law.And no, you do not need a cost segregation study to deduct these components of your rehab - if you have itemized invoices and receipts.Myth 8: for a valid 1031 exchange, I must exchange STR for another STRNo, you don't.

The concept of material participation is not simple, unfortunately.

I build at simple closet with accordion doors to make it as some and cost effective as possible.

I have no experience in the field and understand fully it's not a simple endeavor. 

This is pretty simple.

Rent Reporting Service to credit bureaus for the debt is effective and simple, pro is low cost, set and forget and high success rates, con is while you can report all unpaid rent you can't report damages unless they are quantified by an order from a landlord tenant board or small claims court.

I would say I have a simple tax situation, personal returns for me and my wife and now the sole member LLC.

I'm hoping there's a simple explanation.

tons of real estate investing podcast on apple podcast such as BiggerPockets, Lifetime Cashflow through Real Estate, Multifamily investing made simple, just to name of few. don't forget to listen to motivational and self improvement podcasts because mindset is everything