I was specifically responding to this: Would I pay for all the remodel expenses and then 50/50 split of profits or does contractor pay remodel cost? 

At a high level it will all come down to the specific piece of land you are looking at.  

Here, we will focus only on a December-specific question: how can I meet material participation if I buy an STR in December?

On top of that, I watched Zach and Rick’s videos, which are great resources and completely free.

@Heidi FischerGreat questions for a CPA that knows more details of your specific situation. 

Specifically, has it changed their tax preparation bill since they can't just send their Quickbooks file over to their CPA?

After the framework is filled out, our acquisitions team will start curating a selection of homes specifically for you to choose from.

Owners mistakenly ASSUME all PMCs offer the exact SAME SERVICES and PERFORM those services EXACTLY THE SAME WAY, so price is the only differentiator.So, the first question they usually ask a PMC is about fees - instead of asking about services and HOW those services are executed.EXAMPLE: PMC states they will handle tenant screening – what does that specifically mean?

The city just passed a very confusing zoning regulation restricting student housing to a specific area, and we're all trying to figure out what the fallout will be.

ALSO they have regs on rooming houses only allowed in specific zoning, similar zoning as for hotels;  only on main streets in business districts AND you have to apply for licensing and blabla as for a hotel..That said;  there is a small movement supporting rent by the room as a small step toward solving affordable housing.