@John Zhang If your wife qualifies for Real Estate Professional Status (REPS) and materially participates in managing rental properties, there is no limit on the amount of rental losses, including depreciation, that can offset your W-2 income.

Right now, I do have the "REALTOR" status but wondering if it make sense to keep paying the $800/yr to keep the status?

However, you can file Form 8832 (Entity Classification Election) to change the LLC’s status to a disregarded entity, provided you act promptly.If you don’t make the election, you’ll need to file Form 1065 by March 15, 2025, adding complexity but retaining the same tax benefits, such as deductions for depreciation and repairs.

I doubt 10% of the GRM will equal enough to where an S filing status makes sense.The home office and such is nominal so that alone isn’t worth doing this.

Yes, as S-Corp owners receiving W-2 wages, employee deferrals to a Solo 401(k) are subject to FICA taxes (Social Security & Medicare).

But ABNB felt so 'authoritarian' (once again for lack of a better word)....including stuff like removing my SuperHost status for a mistake of their own and not reinstating it once I proved them wrong. 

It seems there’s a common misconception largely influenced by social media, online courses, and influencers who oversimplify the process that real estate is an easy, passive way to generate income with minimal effort.

Quote from @Zara Massoud: Your new PM is correct and the old ones were wrong.The property manager must have your social security or tax ID number on file.

It's not as easy as the social media gurus preach. 

Here is a newly created resource on BiggerPockets, which touches out cost segregation, accelerated depreciation, bonus depreciation, depreciation recapture, Real Estate Professional Status (REPS), STR Loophole / STR Strategy, example properties, and more.