Finally, make sure that your short-term rental (STR) meets IRS requirements and doesn't get classified as long-term or this could prevent you from leveraging this tax strategy event though you are materially participating in property and it was placed in service.

Hello Experts,Background: we are working on a 8 unit deal (2 parcels x 4 units on each building) - we thought this would fall into residential loan and we almost completed the paperwork, but the lender came back stating they cannot proceed forward because the zoning is classified as commercial. lender is asking us to work with listing agent/owners get it re-zoned as residential. 

My questions about this strategy is how long would the property need be classified as an investment property?

I have 2 properties I would classify as C+ or B- and those, so far, are OK to manage.

For newly constructed, purchased or renovated properties and also retroactive generally over the last 10 years, building components are properly classified into individual units of property and accurate recovery periods for computing depreciation deductions.

There is a classifieds sections.Outside of BP, there can be local host meetups, network with property managers in your market, as well as marketing yourself on Thumbtack, FB Classifieds, etc.Best of luck!

It's concerning that Bigger Pockets admins continue to leave all of Matt Motil's classified ads here on BP where he was fishing for victims for his Ponzi Scheme.https://www.biggerpockets.com/posts/user/mattmotil https://www.sec.gov/news/press-release/2023-196

What do you classify as a mid-term rental Jon?

I would also consult with a certified cost segregation specialist in terms of classifying other assets into their appropriate class lives.

The one caveat I have about that area is that it is starting to be classified as a declining market.