We plan for this property to be for investment and rent out in the future when buying something larger.

Without that designation, your K1 losses remain passive and can only offset passive gains.If you’re looking for a true tax deferment strategy, consider a 1031 exchange for future sales to defer capital gains by reinvesting in a similar property.

Create a network, prepare for the future, and conduct extensive due diligence on properties.

In the future, I recommend keeping any investing separate from your personal finances.

Ask them these questions - you'll get a better understanding and you'll be able to vet your future vendors at the same time. 

Areas with ongoing infrastructure projects can also indicate future growth.Condition of Properties: Look for properties that are well-maintained and require minimal repairs.

Yeah I think in the future when you have more properties it makes sense to have an LLC but not for a single property. 

Only advice I can suggest is to continue to market future and guests to other channels such as a direct booking site, or the other housing platforms.In the beginnning, Airbnb and VRBO were just about the only place we got bookings, but now we get some from direct, booking.com, and a couple of other sites.Hope that helps.Mike

I thought of  exploring duplexes but wonder if this would be a good option as a first-time purchase.I will certainly consider reaching out in the near future - - thanks!

What your current take on RE investing across the markets?-- pause or keep going?...:) raf