Rental income and expenses, such as mortgage interest, property taxes, repairs, and depreciation, can be reported on Schedule E of your personal tax return, regardless of ownership structure. 

I’ve had my share of challenging deals too— but the payout made it all worth it.Curious - would you handle the cash-for-keys offer differently next time, or was riding it out the best call?  

@Samuel Diouf, thanks for sharing that article.

Thanks for sharing this question here, it's a great one that I get all the time.

I do not have any stories to share currently but hopefully I can make that change.

👋I work with a lot of investors who are diving into short-term rentals, and I wanted to share a few tips I’ve picked up over the years that can really help maximize ROI.

Share cropping with a retail farm stand/farmer's market is one, if it's the right kind of land in the right location. 

Illinois finally took the step to make it very clear you need a license to sell or market real estate you do not have title ownership to. those hiding behind  ( hey i am just selling a contract) that does not fly when run up the regulator flag pole. 

If you ever want to chat about what’s working here or just compare notes, I’m happy to share what I’ve learned.Here to connect,Jorge

This could be an opportunity to share what you've learned.