When you create any type of transaction (income or expense) you can choose what category it is, and what property it is for.

Welcome to BP - lots of great markets and submarkets in the general DFW area, even stretching now up to near Oklahoma in the north and down towards Waco/Temple South - lots to evaluate and choose from!

I'm an educator, a personal caocher and business advisor and since my kids has grown up 10 years ago I started doing real estae in Israel, where I live.A few years ago we went into some 3rd party investments in the USA, as part of an LLC group of investors- one in Manhattan and one in Atlanta.Based on the experince I have with those market (as well as Newtom MA, where I lived for 3 years) I lately decided to choose Milwaukee as my next market, focusing at the moment on single family houses.I'm looking into 3/2 single familiy houses to buy and will be happy to work with local agents and build a team.

Others choose to fight the current, or they figure out how to work with the current to make some progress.The people who choose to keep swimming learn.

If you had than you may able to take advantage of the 121 exclusion.

I spend every summer in either New York or San Diego, and almost exclusively rent a property for 60-90 days through one of these two platforms.  

@Devin Bost, I understand the dilemma you're facing in choosing between full-service property management and a more hands-on approach for your short-term rental.

I would NEVER choose similar portfolio of REITs over those managed by experienced investors. 

The thing that I would start with is: talking to a lot of syndication sponsors before you choose to invest any money.  

Choose that one and use it.