So, both my wife and I are full time W2 employees and are in the 24% tax bracket, and I came across the short-term rental loophole which sounds really amazing for taking write offs and using them to reduce your W2 taxable income, but also equally difficult to qualify for, unless you are within a short driving distance to your property.  

Tend to be hard on myself and a very motivated individual so my overall plan is to keep reinvesting to continue building until my passive income is equal to or greater than my current gross.

Don't your same beliefs apply to the cheaper or smaller houses too?

We are considering transferring it into our VA based LLC - of which we are all equal partners.

We are considering transferring it into our VA based LLC - of which we are all equal partners.

Money becomes very relevant at the time of purchase; especially if there is not an equal contribution.

Properly executed, an investment in these types of property can garner substantial passive losses, often equal to the amount of capital invested (or more) even in years where the benefit begins to sunset.A few words of caution: - The tax benefit is valid as long as the gain incurred from the sale of property AND the investment with bonus depreciation occur in the same calendar year. - Be careful not to let the "tax tail" wag the dog.

My belief is the large government debt means higher inflation (and therefore interest rates) for the next several years.

My parents put up most of the money for the down payment and they're crediting 10% of the rents as equity to me each month as payment for managing the property until we reach an equal equity position. 

It is directed towards investors who share you beliefs.