REPS does not relate to STR's.For short-term rentals (STRs) with an average rental period of seven days or less, you don’t need REP status to offset losses against other income.

.- Builds long-term wealth - Generates rental income - Increases equityCons.- Complex process - Requires financing - Dependent on market conditionsAirbnb:Pros.- Potential for higher returns - Flexible pricing - Short-term commitmentCons.- Requires active management - Subject to regulatory risks - Income can vary seasonallyI wish you the best in your new venture.

Don't talk yourself into a place because of personal use.Buying a $475k condo that brings in 35k in gross rental income will lose a lot of money.

In the past, I cashed out my 401K(Paid income tax + Penalty).

What's left after subtracting the expenses is your Net Income. 

With that said, I am in the position where I will not need a monthly income from my rentals.

Hey Violet, to obtain additional corporate credit, are you working with a specific company or are you reaching out the typical credit card vendors? 

@Christopher HeidrichRecommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

.🔥 Why Co-Living & House Hacking Work So Well Together✅ Higher Rental Income Per Unit – Renting by the room typically beats traditional rental rates.✅ Lower Vacancy Risk – Losing one tenant doesn’t mean losing all your cash flow.✅ More Affordable for Renters – Competitive pricing attracts a steady stream of demand.✅ Built-In Community = Lower Turnover – Tenants stay longer when they feel connected.✅ Allows You to House Hack a Single-Family Home – No need to compete for pricey duplexes and triplexes!

Great reason for not pulling deductions forward.I have been retired from a W2 job for some time and my income is at an all time high and will just keep going up with more RE investments.