You're going to have to scrap like crazy to break even - think rent by the room, short term, mid term strategies that require more work.

@John Lasher Have you considered the BRRRR strategy? 

A common strategy I see with diversification exchanges, is that the investor will purchase the first property cash and the second with a mortgage.

With this in mind, I recommend exploring other investment strategies that may provide better cash flow and ROI.

After reflecting on a strategy someone used to buy 15 short-term rentals off-market in just 12 months, I thought of an idea.

What’s your strategy ?

We are not real estate professionals.1) How would you handle the classification of the property in the 2023 tax year and would you utilize a STR depreciation strategy?

Hey Sarah, if the seller has an agent, it’s best to go through them first since they’ll likely get involved anyway.For a property that’s been sitting on the market, approach with strategy.

Consider defining clear roles, ownership percentages, and responsibilities upfront, and ensure you’re protected if the partnership doesn’t work out.Since you already own properties, it might be worth consulting a CPA who specializes in real estate for advice on tax strategies specific to your situation.

I’d like to know if there is any measure or strategy I can do beyond that.