The expected returns are a mix of cash flow and appreciation, ensuring short-term stability and long-term wealth building.Good luck!

I’m considering short-term rentals in the Pocono area of Pennsylvania as a tax-saving strategy, but I’m not sure where to start or how realistic this idea might be.There’s still so much I don’t know about investing, and I’d love some guidance.

In the short term, there can definitely be some financial downs, but long term, you will pass everyone up!

Someone I know bought a ranch to use as a short term rental property in 2021 for $1.7 million.Engineers did a virtual site visit, they were able to assign a value of $347,000 to either 5-7-15 year assets that were eligible for depreciation.In 2021, the bonus depreciation amount that you could take was 100%.This means that the owner could immediately deduct the full amount of eligible property in the year it was placed in service, rather than depreciating it over time.With that in mind, he took the full $347K deduction in his FIRST YEAR of ownership to offset taxable income from rentals.This was roughly ~20% of his purchase price.It was a big win for him.In 2024, the bonus depreciation rate is 60% so the calculation would be different.That said, you can still save and defer a ton.

This includes your short term and long term goals.Good luck!

The inspections alone cost me $1,300, but that upfront investment saved me tens of thousands of dollars and spared me countless headaches.In short, buying older homes requires more diligence and negotiation, but when done right, it can be incredibly rewarding.

Short answer to your questions is if you have a properly set up LLC then all transactions (lease agreements, invoices, etc) are under the entity name.

Short, sweet and right on the mark.

To make a long story short, i am told there are quite a few complexities and fees that make it only practical at scale.

Learn how to consistently hit singles and doubles, and don't be ashamed to take the occasional walk. 5 years is a very short time frame to go from no RE to financially free (although you may already have property, which is an awesome start).