I have a short term rental that I self manage and am considered a real estate professional based on material participation rules.  

Also, you can't know how the cost of materials could fluctuate over your project time, so consider purchasing any materials upfront so you can stick to your budget. 

Maintain detailed records to substantiate deductions for materials, labor, and expenses, which can significantly reduce taxable income.While an S-Corp provides tax savings, it also requires payroll management and compliance with formalities, making it essential to stay organized or consult a tax professional for ongoing compliance.This post does not create a CPA-Client relationship.

If you continue using it as a rental but reduce STR activity below the material participation threshold, your deductions may become passive and subject to loss limitations.2.

This creates a softer material that causes the home to sink.

Construction crews leave their tools and materials on job sites with doors unlocked and theft is extremely rare.Location, location, location.

The number one thing you need to underwrite against is fraud and misrepresentations by the promoters.

Verifying last 2 years of rental history and income extremely important to find the “best of the worst”.Section 8: All the S8 “gurus” promote putting S8 tenants into this Class of cheap properties to “get rich”.

They must satisfy "material participation" test for their STRs to utilize the strategy.

Quote from @Travis Timmons: My take is that if a fund has an influencer's name attached to it, they're core competency is promotion and fund raising rather than being a good operator.