My research tells me that once I qualify as a REP with the material hours spent on the STR, I can use that status to deduct depreciation from my LTRs as well by using a regrouping election on my tax return.

- We send bi-weekly reports with: Webhits, inquiries, showings scheduled, showings completed, list of applications and status.6) How often has your PMC discussed price reductions?

What adds complexity to our plan, is that we live in Minnesota... ...How challenging is it to meet the material participation hours needed to achieve active status?..

No medical treatment unless legal status is shown.3. 

Basic inquiries about rent payments, tenant status, and property finances were either deflected or completely ignored.Breach of Contract & Unethical Practices – Even after I informed her I was selling the property, she tried to list it for rent without my consent—seemingly to secure a tenant placement fee for herself.

The months of supply, a key indicator of market health, sat at 8.5 months.

If its a solid investment:You can bank on the market and the status of the major economy.

You can always consider doing a cost seg study on a property that you buy and that can also help with tax benefits if you cannot qualify for the real estate professional status.

You mentioned that you are not a W-2, but that is not the only status of income producing individuals. 

Leverage / down payment required will depend on if you're a U.S. citizen, Green card holder or if you have another immigration status.