In my opinion they're really only good for when you're ready to hang up the spurs, and your inheritors don't want the hard assets, so you keep the deferment rolling until you get a stepped up basis at death. 

Enter real estate as a form of an asset.Real estate steps into the factor with two forms of strength: scarcity & utility.

It's usually those seeking proactive advice or to share accomplishments  who post (nothing wrong with either).

You’re doing everything right—step by step.This journey isn’t easy, but you’ve got what it takes.

However, this is a difficult qualification to meet, especially if you have a full-time job outside of real estate.Don’t worry if you aren’t able to qualify for REPS status, because there is another strategy that is referred to as a “loophole”, which is the STR strategy.Per Section 1.469-1T(e)(3)(ii)(A): there are six exceptions where your rental property income is not automatically considered to be “rental activity” and thus may unlock the door for being able to offset these losses against your active income.The average customer use is seven days or less.The average customer use is 30 days or less and significant personal services were provided (for example, daily housekeeping).Extraordinary personal services are provided, regardless of the duration of customer use.The rental is incidental to a non-rental activity.The property is available during defined business hours for non-exclusive use by various customers.The property is used in an activity conducted by an S Corporation, partnership or joint venture in which the taxpayer holds an interest.If your property qualifies by meeting one of the exceptions above, the next step is to demonstrate material participation in the rental activity.

I have been learning about real estate investing for over 5 years and finally took the first big steps this year.I purchased a short term rental in Bellaire, MI. 

Look at your list of mistakes and the steps you'll need to take for the next renter.

I take it a step further - I don't mail postcards.

You are taking a good first step by looking into the bigger pockets community.

Feel free to reach out with questions or updates—we’re here to support you every step of the way.