Anyone out there on W2 , owning a STR that is taking the benefit of its managment qualifying you to take real estate losses against your W2?

Is it possible to have a property manager who manages some of the property, while I manage the rest remotely?

Technically as the manager of the LLC you can open an accout with any financial institution though they don’t all cooperate when it’s an IRA owned LLC. 

Old post but I figure I would comment here... my Company, Maven Cost Segregation has done studies on projects like this.

I am just a beginner wholesaler so I haven't done much marketing/lead management yet.

Projected sale: 950-990k Replacement property budget: 990k - 1.1M Plan: rent out the replacement home until meeting the requirements, then move into it while renting out a portion of the home via short-term rental 

I have no idea about Long Beach - but I have plenty of clients buying in Tampa with similar rates who are turning profits even with management.

I would run this by your realtor/property manager to get clarification.

My team and I are also out-of-state investors, including a managing partner who was born and raised in Toronto.We’ve been investing in Cleveland for a little over a year now and currently own 22 units in the area.

Making sure we can manage our own properties in these areas.