I don't trust HOA's at all and there is no telling how that will play out.

If the fair rents really are $5,000 a month, then this is a solid long-term play.

Hi BP friends,I recently have been looking at STRs near National Parks, and I wonder whether it is a pure cashflow play, or a combination of cashflow + appreciation play?

(Sternlicht)* Bonus: his take on interest rates and when they will come down. - The largest and most powerful rocket just went into space.

The study identifies with forensic engineering detail the immediate Bonus Depreciation 5, 7 and 15-year personal property class lives qualifying portions of a building that are normally buried in 27.5 year residential or 39 year commercial categories. 21.64% of the total depreciable basis was classified as 5-year class life.

It's like a video game you are playing with real money.Do you have friends from local meetups who invest in any of those areas? 

If they were the right land/building ratio and made sense to do a cost seg/bonus depreciation, could I potentially offset my entire W2 salary?

At a minimum, if you want to shelter W2 income you need to know the IRS rules regarding passive activity losses and the exceptions, and also about the largest tax sheltering deduction, which is cost segregation and bonus depreciation.

And if not you know them well, maybe your kids play together etc.

Here you go:Real Estate Purchase Agreementhttp://www.renegadewholesaler.com/bonuses/Purchase_and_Sale_buying.pdfAgreement to Assign Contract for Sale and Purchasehttp://www.renegadewholesaler.com/bonuses/Assignment_Agreement.pdfI just want to echo the sentiment that you should check with your Real Estate Attorney to make sure these are legal in your area.