Checks come in ACH monthly and I love it. 

@Sol Bergren with the lifeproof you tap the butt joints down/together to lock them.

Curious if anyone has experience co-buying a home using joint financing and then, like so many do, after a year+, flipping the home into an LLC?

Historically cleaning fee's reflected pre-Airbnb the  way that Mom and Pop joints allowed customers to pick if they would clean up the cabin or if the resort did. 

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.

If you are all going to be active in the business, then you can probably structure as a joint venture.

I also have no intention of investing in rental properties in the UK no more due to a lot of horror stories and potential new changes in laws, which is why I am very eager to explore the US rental market.I am not a US citizen, my partner is and it will be a joint venture.

For example, in 2024, as a single individual, you make less than $146,000 MAGI, you can make a full contribution to the Roth, $230,000 if married filing a joint return.

And half of American renter households spend at least 30% of their income on housing, which is up sharply since 2000, according to Harvard University’s Joint Center for Housing Studies.

My understanding is that excess business loss limits in 2022 are $270k for single filers and $540k for married filing jointly.