However, passive loss limitations apply—if your AGI exceeds $150K, you may not be able to deduct the full loss in the current year but can carry it forward to offset future passive income.Future Considerations: If the property generates taxable income in later years, Kansas allows a credit for taxes paid to Missouri, but since you’re reporting a loss, this doesn’t apply.

If STRs become less profitable, you need to ensure the property can still generate positive cash flow with a traditional lease.

+1 for AirDNA - I recommend using one of their premium monthly subscriptions to explore the actual comps and not just their auto generated projection. 

You could structure a low down payment with interest-only payments for a set period, then refinance later.Master Lease with Option to Buy – Control the property now, generate cash flow by leasing it, then buy once it's stabilized.Sub-To or Wrap Mortgage – If there’s existing debt, you might be able to take over payments or structure a wraparound mortgage to benefit both parties.Hard Money or Private Lender for Reno Costs – If you secure a seller-financed deal, you can use private or hard money for the rehab without tying up your own capital.BRRRR Strategy with a Bridge Loan – If you can get the purchase price down, use a bridge loan for acquisition and rehab, then refinance with DSCR or conventional financing.Would love to hear more details to help structure something solid.

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The frameworks others have presented of viewing the site as a lead-generation tool where you, as the host, are handling all the payment processing and screening is pretty accurate. 

Less than $300K in a mortgage, generating $4,000/month in rent.

As a management company, we also have a duty to get a property occupied with a qualified resident as soon as possible and sometimes that means adjusting rents down for right now to generate revenue.  

Super nice looking home, very cool, in a location and lot not conducive for revenue generation that would make it make sense. 

However, on my tax returns, I dont break down the income by property or specify how much each one generates, just that my LLC earns revenue from management.