Plus, it takes several years to break even on the closing cost and first few years of payments are mainly applied toward the interest and less to the principal.

However, if guests want to bring 1-2 additional people beyond that limit, you can apply a flat fee or per-night charge.

Does that apply to my own personal property?

I have a current tenant who, at the time of showing, loved the place and was going to apply for it ASAP.  

However, if the interest is considered ordinary business income, it is reported on Line 1 of the K-1, and SE tax may apply based on your material participation in the business.

It applies to both W-2 income and other forms of active and passive income, meaning that the STR loophole allows you to leverage depreciation beyond just real estate activity.3.

Assuming you fail the first test, you will have to perform the remediation work and then call for a re-inspection.One you have a passing inspection you can apply to MDE for your Lead Cert (many lead inspection companies will handle this for you).Good luck!

your system probably applies well in really dense areas but maybe not in less dense.   

@Matthew SamsonMaybe a little early but dont let that stop you from learning the tax code that will apply to you when you have your rentals.Like Mark Kohler say; you are the captain of your ship!

-How does LLC/personal loans differentiate when applying for loans?