Hence any "deduction" in massive air quotes is not available.

However, remember to consider deductions, depreciation, and other tax benefits associated with rental income. 

Bonus depreciation allows you to deduct a significant portion of the cost of qualifying property in the year it's placed in service.

As a specialized real estate CPA, I'm here to provide expert guidance on your most complex tax matters, from navigating 1031 exchanges and cost segregation studies to optimizing your rental property deductions and handling multi-entity structures.

I also like watching all the STR tours on YouTube, i.e: Levi Kelly. 

That means that I keep reserves of $10k to $20k and I make my deductible as high as possible (something like 5% of the RCV or $20,000).  

And then, after all deductions made, remainder profits are split 80% you 20% builder. 

For newly constructed, purchased or renovated properties and also retroactive generally over the last 10 years, building components are properly classified into individual units of property and accurate recovery periods for computing depreciation deductions.

I was told this would be an ideal package for me and would allow me to progress at my own pace to self learn about what I would need to to to maximize my tax deductions and would most likely include entity formation at extra costs. 

I’m aware of what material participation is, i just wanted to see if anyone has personally done this and if there were any issues or pitfalls with doing it.buy a million dollar cabin, cost segregation, 200- 250k tax deduction against w-2 income and rinse and repeat?