Thank you for your responses.

I'd love to hear what your response was...

Best,JacksonUsing ChatGPT-generated responses adds no value to a discussion of Colorado STRs but more importantly ... much of this is flat-out incorrect information.First off, it's laughable that "Breckenridge" would be proposed as an option for a first-time investor.

So valuable.Still a few terms in this response I'll need to research to understand them in a more "5th grader" mindset I'm in (vs the legal pro you are!). 

The studies can address current year assets as well as those placed in service in prior tax years without the need to amend prior tax returns.ConclusionUnderstanding the difference between short-term and long-term rentals is crucial for real estate investors, particularly when it comes to depreciation and tax planning.

Also go ahead and ask further questions based on their responses when it seems appropriate.

Placing the right tenant is crucial, don't just rush into a lease with one because you want the property filled.

Document the condition thoroughly for future reference and estimates.If the property is of interest, it’s crucial to have professionals assess potential structural damage, electrical issues, or mold remediation costs.

Meaning, if the rent is $1,000, Tenant A could be responsible for $200, whereas Tenant B could be responsible for $0.

I posted a while back asking if it was worth it or not and after BP community responses, research and friends that live in the surrounding area we finally did it.