The highest and best meets the first Mon of every month near Ivanhoe, they post about it on IG @highestandbest (it's labeled as a clothing brand for some reason but the events are solid and free)We've bought 150+ units of Multifamily and still own and operate 51 units, we also manage for other owners in Orlando, FL and Jacksonville, FL so if I can be of help feel free to reach out

If not, even though you are a re pro, losses are passive & deductions are limited.There are 7 scenarios that will qualify as material, and you only need to meet one:*500 hours*Substantially all participation*> 100 hrs and at least 1/2*Significant participation*5/10 years*Personal service activity w participation in last 3 years*Continuous participationTo materially participate, you must be involved in the operations of the activity on a regular, continuous, and substantial basis.Once you pass the pro test, the material participation often comes along for the ride.You can elect to aggregate all rental real estate for purposes of measuring material participation under Sec. 1.469-9(g).Your time spent on all your rental properties (STRs don't qualify) counts as one activity, making it easier to materially participate.In order to make a strong case with your CPA and the IRS you need to document your hours.Best practice is an hours log where you are as specific as possible.

King county is not a cheap place to operate.

For resources about available syndications, podcasts are a good way to hear the operators talk about their company and mission.

They operate like a credit card - when you are not using the money you don’t accumulate interest, when you are using the money you accumulate interest and need to make monthly payments.

Seems wise to leverage a smooth program that has been operating and refined over the years. 

He's operating  business, taking the risk, providing a service to his community.Your tenant should be thankful that he saved so much money over the years, but he's more likely to feel entitled and that his rent should never increase.

If you’re feeling overwhelmed, consider consulting a local property manager who can help you plan for the deferred maintenance and set up rental operations smoothly.

It works like this:(1) Save up enough money for a down payment(2) Buy a single family home that you will Airbnb/VRBO(3) Ensure the “average period of customer use” is <=7 days(4) Materially participate (5) Cost segregate the property, resulting in large depreciation deductions(6) Use the losses from step 5 to offset your W2 incomeWhat makes this possible is that operating an STR is considered “non-passive.”

@Joey Samudio I would definitely recommend visiting the market you're wanting to operate in and more importantly meet the team you'll be working with.