The only shot they got, it would have to be decentralized of any 1 of there governments, decentralized of any one of there currencies, decentralized of any one of there controls, and thus backed, back by something of unifying power, weight and importance that transcends religion, region, culture.     

Those memos do not hold authoratative weight but shows the IRS’ thoughts!

Maybe, maybe notYou have to weight the pros / cons along with the risks.Your BP mentions you are 'new to real estate'.You are getting into a new asset class along with a business(I consider a STR more of a business than an investment).How much will you save in taxes?

You can focus on properties that have strong rental potential to generate steady cash flow, helping you pay down the mortgages over time.Once you’ve established a solid cash flow and built equity, you can scale by adding more properties gradually.

Invest in property management and gradually transition to financial independence.Good luck!

I am a high-wealth earner with years of employment ahead for me, so I will not feel the weight of this loss other than shame on me for not appreciating this risk better before committing.

Welcome to BP @Cory M.Your approach to starting with a single-family or duplex and gradually scaling up is sound, and focusing on cash flow and maintaining reserves is a prudent strategy.

So the weight of selection really comes down to you, what you most want to do, strive towards etc.. 

Gradually, if you are able to make it work, you can explore flipping, owning to rent and other options to build wealth.

There is no “easy button”, that’s why we all learn from every transaction.There are thousands of commercials that claim to make you “lose weight by taking this supplement “ or “you”ll make thousands of dollars a week after buying my course “…please don’t be so quick to believe everything someone says, fact check!!!