It will familiarize you with the basic terminology and benefits.

In my opinion taking a basic self-defense course and maintaining a solid level of physical fitness would benefit a majority of people a lot more than taking a CCW class and carrying a gun.

Real estate can be a powerful way to achieve both tax benefits and cash flow, and there are many strategies to fit your goals.

Benefit from Continued Appreciation: Real estate in Austin and San Antonio has shown robust appreciation over the years.

Like aircraft checklists and vehicle operators manuals (the -10s), one can benefit from extensive research, trial and error, and deliberate improvement principles gained by the many that have gone the path before. 

Given that it is near the end of the year, it is almost impossible to get the STR permit  and actually rent it before the end of the year, most likely, I am not able to get any tax benefits in 2024. 

Many successful active investors transition to passive investing as a way to diversify into new asset classes or markets and to earn back some of their time and still benefit from the positives of real estate investing.To answer your question - I would allocate a portion of the $200,000 to MF as I believe this is a good time to invest in an asset class that has recently struggled. 

There are numerous Facebook groups specifically focused on off-market deals tailored to particular areas and conditions.

Second, I have a question about REPS status in a longer term sense.The primary benefit of REPS status, as I see it, is to take passive real estate losses, usually from depreciation and accelerated depreciation via cost-segregation, and use those losses to offset active income, reducing current or future AGI and tax burden.I’m clear about this benefit, but what I’m unclear on is the consequence in out years.For example, if I put $100K into a multifamily syndication, and the syndication does a cost seg, resulting in a $40K loss, I believe that a Real Estate Professional could claim that $40K loss against their other income and reduce their AGI accordingly.

Consult a tax pro to maximize these benefits!