This classification typically means that the property is listed on the National Register of Historic Places or is located in a registered historic district.Substantial Rehabilitation: The building must undergo "substantial rehabilitation" to qualify for the credit.

The 1-year holding period alone does not determine the classification.

I'm unsure of the tile dimensions, whether they are 12"x12", and the specific layout and classification of your rental property.

If the units are not the primary tenant’s residence, the appropriate use classification is Visitor Accommodations.

Typically, it's applicable to certain types of property, and the rules can change.Regarding short-term rentals and bonus depreciation, the Tax Cuts and Jobs Act (TCJA) introduced favorable changes for businesses, including bonus depreciation for certain qualified property, but the specifics can depend on your situation.Using your property for short-term rentals may affect your ability to qualify for certain tax benefits, and the classification of your property (personal residence, rental property, business property, etc.) can impact the tax treatment.The IRS has guidelines regarding the depreciation of rental property, and bonus depreciation may not always be applicable to residential rental property.Additionally, if you decide to switch the use of your property (from short-term rental to long-term or mid-term rental), there could be implications for tax treatment.Given the complexity of tax laws and the potential impact on your specific situation, it is strongly recommended that you seek advice from a qualified tax professional.

Determining whether the venture falls under a service or rental business hinges on the provision of substantial services; for instance, if a bed and breakfast service is offered, it must be reported on Schedule C, triggering a 15.3% self-employment tax.Moreover, personal use plays a crucial role in the classification of the property.

The information posted by the Federal Mortgage Society (Sociedad Hipotecaria Federal) (SHF) on the Mexican federal official website is a positive step forward, even though it currently focuses on properties with mortgages which according to SOFTEC is 80% of transactions with Mexican buyers.In terms of property classifications, consulting companies in Mexico often categorize properties into several price ranges, such as:- Social: Minimum price: $8,824 USD to maximum price: $24,117 USD- Economic: Minimum: $24,117 USD to maximum: $45,882 USD- Medium: Minimum: $45,882 USD to maximum: $114,706 USD- Residential: Minimum: $114,706 USD to maximum: $247,059 USD- Residential Plus: Minimum: $247,059 USD to maximum: +Most foreign investors tend to focus on the Medium, Residential, and Residential Plus categories, particularly in Class A and B neighborhoods.

I keep seeing people refer to their property as A,B,C, D properties or neighborhoods. Where do I find this info about my properties? 

After listening to many podcasts, my thoughts behind the letter classifications of RE has become quite clouded.

@Edward Rhoads has a good point about their classification practices when it comes to adjunct positions as well.