The period during which it was rented as an STR may allow for partial deductions, but transitioning it to personal use would limit the amount of depreciation you can claim going forward.

He's playing with numbers, I reckon, and I bet there was a mortgage on the property, so his cash in was not $230k.

Best bet is to establish a heloc if you intend to borrow funds short term.

We can definitely explore options for a mortgage on your $350k property to fund both your current renovation and the purchase of your next investment property.For the new property, we can also consider a separate mortgage to cover its purchase and rehab costs.Regarding the rural location, while it may limit leverage to around 65% of the property's price/value, we can work within these parameters.Given your equity position and experience, I'm confident we can structure a solution that meets your needs.

Thanks Hey Troy, I would say the best bet is for you to try to sell it as a package deal and get a seasoned investor-agent to try to get you some action on it.

Figure out your “why” as to what your  cash flow problem is and I bet you will want to keep them!  

There has to be a lawyer willing to do it; call every lawyer you can, I bet you can find one!

They do this to limit risk.However, some lenders may be more flexible if the deal is particularly strong, and your experience or financials are solid.

I don’t actually know about such situations, as I’d think it useless to file a Stay of the Writ of Possession at that time… This is way above my limited knowledge.

So STR loophole there are personal use limitations: To avoid having the property classified as a "residence," which limits your ability to claim rental expenses, your personal use of the property must not exceed the greater of:14 days per year, or 10% of the total days the property is rented at fair market value