Typically, tangible personal property qualifies, but real property does not unless it meets the definition of qualified improvement property.* The importance of consulting a CPA—The Section 179 election can be a valuable tax strategy, but it’s also complex and should be made in the context of your entire tax picture.

We have offshored our reservations department and have them assisting with reservations related administrative tasks but I believe you will still be extremely involved in the day to day without a PM company. 

Leads that meet these criteria don’t come by easily.Has anyone here had success in solving this problem?

Any host meet up?

This deal sounds like it could go 1 of 100 ways, so I think a meeting of the minds could hash out something that works for all parties. 

I meet the appraiser there to walk them through the property, answer any questions and HAND them the folder with the above info. 

We're a brokerage that deals specifically with investors.We hold monthly REI meet ups all throughout massachusetts where investors, vendors, attorneys, lendors, agents, etc come to learn and network.Our Worcester team is hosting a meet up at Bay State Brewery in Worcester this wednesday from 6:30-8:30p. you should stop by!

At that point, it's worth researching and finding a solution that better meets your needs.

However, this is a difficult qualification to meet, especially if you have a full-time job outside of real estate.Don’t worry if you aren’t able to qualify for REPS status, because there is another strategy that is referred to as a “loophole”, which is the STR strategy.Per Section 1.469-1T(e)(3)(ii)(A): there are six exceptions where your rental property income is not automatically considered to be “rental activity” and thus may unlock the door for being able to offset these losses against your active income.The average customer use is seven days or less.The average customer use is 30 days or less and significant personal services were provided (for example, daily housekeeping).Extraordinary personal services are provided, regardless of the duration of customer use.The rental is incidental to a non-rental activity.The property is available during defined business hours for non-exclusive use by various customers.The property is used in an activity conducted by an S Corporation, partnership or joint venture in which the taxpayer holds an interest.If your property qualifies by meeting one of the exceptions above, the next step is to demonstrate material participation in the rental activity.

I have come to find out that every city,county and state have different rules/regulations when it comes to starting group homes.Research your local city zoning ordinance and reach out to your local county human services department for more information.If you have more specific questions you would like to ask feel free to reach out and I'll try to answer to the best of my ability.