You likely won't be able to offset the rental loss with your W-2 income unless you can claim real estate professional status or operate it as a STR and self-manage it.The answer won't change even if you own the property inside of an LLC.Best of luck.

If you can set up an account with google business and have guests leave you reviews on there as well, that would be the biggest asset you could give your STR!

But guests (and myself when we recently stayed there) have noticed their feet get black from dirt.

Financial Preparation: Determine how much you can afford to invest and evaluate your present financial status.

CONTEXT-(30k in credit card debt, split between 4 cards, mostly in charged off status)(one vehicle loan that was charged off, is now caught up to current, not paid off, 50k original loan amount)(some card companies are contacting me trying to make a deal, so likely only have to pay 20k of debt off.

Value add, which means a non-performing asset wouldn't even achieve a yield on cost of 7% after rehab and brining it up to performing status in Dallas.

I would ask a PM in the local area who pays the taxes, sometimes the OTA's charge it to the guests but some places require the host to pay it.

Like I said in another response to this thread a really good TC will have a hand full of top producer be worth their weight in gold and make a VERY nice living for an in home job that comes to you with little to no over head.. 

They eat it, because sometimes guests leave in impeccable shape and they're done in 1/2 the time. 

We have a long-term tenant who has recently started having a guest live with them.