However, the tax treatment differs between short-term and long-term rentals:Short-Term Rentals (STRs): If you materially participate (work 100+ hours and more than anyone else on the property), you may be able to offset rental deductions against W-2 or other active income, offering greater tax benefits.Long-Term Rentals (LTRs): If your AGI exceeds $100K, your rental losses may be limited, unless you qualify as a Real Estate Professional (REPS).If you plan to expand your rental portfolio, consider an LLC later for liability protection and easier management.

Has anyone transitioned from a construction manager role with a large company to developing real estate on their own.What has that experience been like?

Either way, make sure to consult with your real estate agent or attorney to ensure everything is legally sound, and keep the buyer informed about the timing.

Hello BP Community,I have  been a BP lurker for many years and after falling out of love with retail real estate- I am oh so READY to get into investing (my first true love).

COVID created a chaotic spike in both the sale & rental markets, attracting even more new real estate investors.

This is where it pays to consult with a real estate attorney.

If you provide rental or real estate advice, an E&O policy could offer additional protection.Keith Coppedge

Quote from @Mark King Sanders: I am now beginning my real estate investment journey.

I didn't have enough space in the Title:Novations where the investor uses a Limited Listing that puts them as the primary contact for scheduling showings, receiving/accepting offers and negotiating are brokering without a license.Novations where the investor actually hires a real estate broker to handle the aforementioned for the seller are not included. 

Warning:If you depreciate a property down near zero and then have to sell your property at a loss during a situation of distress...You could end up giving all the proceeds to the bank AND owe the IRS a big chunk of money for recapture.Long-term tax planning with real estate needs to be coupled with risk management and making sure you don't lose any properties.