Nicole, great job on this flip!

Is there job growth, a lot of development?  

First thing I always ask people who ask me about doing STR is do you have a regular w2 and do you want to do another job?

There are several different types of income in the US tax code.Two main types are “active income” and “passive income".Active income is money you earn from working, such as wages from a W-2 job or income from running a business.Passive income is money you earn from investments like real estate, stocks, or rental income from your RE portfolio where you earn $ without actively working.Normally, you can't use passive losses (like losses from real estate investments) to offset active income like your salary from a W-2 job.That is unless you are an RE Pro.The reality is, that Real Estate Pro status is just a filing status similar to filing married or jointly.And if you are a real estate professional you CAN use passive real estate losses to offset active income from other sources.To qualify as an RE Pro you must:1.

How you get there honestly depends on your W2 job.

After looking more into bankers code, private  lending and doing a lot of research, I came to realize that it is a job and not passive in any way.Don't get me wrong, I would love to do private lending but regulations makes it very difficult and time consuming.

Hi Ellen, typically, to claim mileage deductions on your taxes for travel to properties, you would need to either own the property or it would need to be your job, like if you were hired as a property manager.

Does anyone know of a trustworthy handyman that is priced reasonably and does a good job?

The management company is reluctant because if it sells they may be out of a job.

Continuous participation.This is great if you are talking about an SMB with effectively connected Real Estate.Note rental activity is considered passive unless you meet the RE Pro threshold of 750 hours and more than 1/2 your time.This is the conundrum for passive real estate investors.If you have a full-time job or a large, time-consuming business it can be difficult or impossible to qualify.A huge loss from depreciation if you have one LP investment isn’t going to do anything for you.