You will realize the loss for tax purposes when you sell the security, which it sounds like will happen in 2025.

Consider a market that you visit often, have family in, went to college at, spent time in the past.You will have a better sense of what the good / bad parts of town are compared to a city you never visited.Best of Luck!

Remodeling costs increase the property’s basis, while post-rental repairs are deductible expenses in the year incurred.An LLC isn’t necessary for a single rental but can provide liability protection as your portfolio grows.

In a slow market homes sit and rot, they are on the MLS forever and the longer it sits, the lower the price goes to find the sweet spot for just the perfect buyer.

So should your facilitator.4) As a trustee, you can now write a check or wire money into any investment that follows retirement plan rules (no artwork, collectibles, alcohol, insurance, etc., and no disqualified parties).

We like the short-term rental idea because we could stay at the property ourselves when we want - summer break, spring/winter breaks, etc.Our budget will be right around $1M or less ideally, and we would like a short distance to the ocean.How likely is it that we could find a property as described above and have it cover or come close to covering the mortgage? 

First post and long time listener.

@Marshawn Moore Thanks for posting this.

@Allison ParkTwo pro tips to share.1.

However, California treats rental income as passive regardless of REP status, so these benefits won’t apply at the state level.This post does not create a CPA-Client relationship.