Shortly after I purchased a duplex and then a 4 unit and some more in that range before I bought an 8 unit.

K-1 losses, generated through depreciation and cost segregation, can often offset distributions during the hold period, minimizing taxable income.

Short-term rentals are great when cash flow is strong, but with profit margins shrinking, switching to a long-term rental could add some stability.

However, be careful about seasoning periods on the new loans. 

Typically, you'll have something like a 10 year draw period with interest-only payments, and then the balance is amortized over 20 years.

I have some rental property back in Atlanta, and have been wanting to get into short-term rentals through Airbnb for years. 

I'm looking at investing in a short term rental in Jacksonville, my budget is fairly modest though, up to $300k so I'm not looking to do a high-end STR.

Long story short, he ended up buying a worthless piece of land. 

On one side of the fold is your short term 6-12 month goal, on the other side you put your mid-term goal 3-4 years and then on the back you write down that Big Hairy Audacious Goal (BHAG) 10 year goal. 

The unit was crappy to begin with and this didn't happen over a short period of time.