Let me know if you'd like to hop on a call to chat, but this is one of the reasons why I mostly advise clients to always negotiate vacant delivery on properties before closing. 

The fix-up and increased value will not matter to the IRS as long as you sell within a reasonable time frame of the house passing into the estate.

Hi Jon from Boyertown, PA-You and your fiancé are interested in buying your first short-term rental and wonder profitable areas to purchase with a budget up to $500,000.I would look at places along the west coast of Michigan, Grand Rapids, Kalamazoo, and near Ann Arbor, MI.It is important to understand the local STR regulations in each community and partner with a property management company that can help your navigate that and manage it well for an excellent guest experience.Don't forget to look into bonus depreciation and doing a cost segregation study to increase the tax benefits of ownership and if you "materially participate" in the management of the property per IRS guidelines it can offset active W-2 income which most real estate cannot.To Your Success!

More here from the IRS on how depreciation works . .

All disclosures are to the seller, escrow, IRS, that kind of thing.In one lawsuit, the judge determined that the lender had constructive notice because I had recorded the warranty deed and was making payments from my business checking account.

Great tools that get updated regularly.I am on the lending side of things and would be happy to hop on a call with you anytime to discuss financial strategies and help answer any questions you may have about nearly any loan product available to help you on your journey, even if they are not products my capital partners offer.We are all here to help you learn and grow.

I have some time now if you'd like to hop on a call

A CPA ensures compliance with IRS rules, maximizes deductions, and avoids costly mistakes, especially for higher-income earners with multiple income streams.

Don't quote me on that, but it's easy to look up the IRS regulations.I recently had a conversation with somebody else who is planning to start an STR business. 

Hey Kiryl, I'd be happy to hop on a call and discuss the process.