I could see how purchasing before the rehab I could have added additional equity but then I would have had to manage the purchase and rehab from out of state.

Quote from @Ian Ippolito: Quote from @Michael Plaks: Quote from @Ian Ippolito: Quote from @Rud Sev: 3) Unless you're doing a 1031 exchange  at the end or similar tax structure to defer taxes, you will have to *pay back* all that depreciation benefit at the end (on sale...which for you is in 5 years)  via depreciation recapture.

If you’re really going to just live in it long-term, I’m not really sure about the benefit up front.

Your not getting any STR properties via arbitrage your just managing someone else's property and the owner is getting most of the benefit. 

After we gave him additional time to come up with the money (a mistake I know), he said he COULD pay, but that it would only be in cash (not in the lease) and we would have to come pick it up.  

Additionally, I wholesale deals and we buy & hold in SE Wisconsin.

Obviously do your own research before asking people on Facebook, but just another way to connect with hosts and see what they do and how they file those STR taxes and maybe some additional helpful info. 

A strong partnership benefits both parties.Happy vendors are more likely to prioritize your jobs and provide high-quality service, benefiting both tenants and owners.Balancing Stakeholder NeedsBalancing these relationships requires a strategic approach:1.Standardized Processes: Implement systems that ensure consistency and efficiency in addressing maintenance requests, approvals, and payments.2.Transparency: Use technology, like owner and tenant portals, to provide real-time updates and visibility into ongoing issues.3.Regular Communication: Maintain open lines of communication with all stakeholders.

But tax benefit of MTR if there is difference between the 2 vehicle.

@Otis Clayton You say "I am at the point that I want a partner with some cash and credit to refi the deals I get from marketing and talking to sellers"Based on that you are looking for someone who has cash and credit, wants to invest/benefit from real estate but does not have time to find deals.Look for someone like that, be clear on their role and your role.