In Jametsky vs Olsen, 179 Wn.2d 756, 317 P.3d 1003 (Wash. 2014) (see below), a real estate investor tried to assist a distressed homeowner who was about to lose their residential home to the country treasurer due to unpaid property taxes.Initially, the investor prevailed at both the trial court and court of appeals (at great expense, of course).However, the Washington Supreme Court (February 6, 2014) reversed the lower courts and ruled that the transaction was a ‘distressed conveyance’ within the meaning of RCW 61.34, and to allow the former homeowner to return to the trial court to litigate the return of their former home.

You would also have to take into account the LV strip rates (certain times of the year some hotels like Treasure Island, etc are 18/night and your airbnb price may have to compete with those prices alongside competing with other airbnbs in the area).3) Joshua Tree would have great seasonal returns from airbnb.

I'm looking for any recommendations for a good CPA/tax pro in the Treasure Valley.

Treasurer or whoever collects property tax.

Feel free to jump in the community here and also take advantage of the treasure of knowledge here.

It is something to look into on purchase but lake houses can be a treasure so dont let it discourage you.  

It's like a treasure hunt, or a episode of Storage Wars, but better because you don't have to compete with all of those other obnoxious buyers.

The reason I'm bringing that up is that it doesn't look like you've put down (you've probably thought about it) how you're going to 1.) have reserves at the beginning and 2.) keep adding to that reserves pile as your treasure trove of properties grows. 

yeah, the biggest tax advantage I think is 2 year of 500K MFJ for owner-occupant property and also the ability to use PAL from different resources when you make a profit, that's a real treasure, I know most millionaires are using PAL to delay or wipe out their profit from PAL accumulation. 

Feel free to jump in the community here and also take advantage of the treasure of knowledge here.