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I am about to submit to the IRS my log of 500+ hours working in the STR business, most of which come from communicating with guests, cleaners, maintenance people, Airbnb, VRBO, and managing supplies, shopping, bill paying, pricing, calendars, all the daily and weekly tasks. 

In other words, make it a daily task to reach out to contacts, search the MLS, make connections, follow up on leads. 

They would be managing 4 to 5 cabins, and I would be setting my daily rates dynamically to maximize occupancy, so this would be a consistently significant workload for the VA(s).

There are quite a lot of repairs or daily requests from guests, more bookkeeping due to consumables, extra utilities, pool service, lawn service, internet, etc.  

It’s a great way to learn the ropes and get a feel for the daily grind in construction.Remember, everyone starts somewhere, and it’s totally okay to learn as you go.

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.

I am building my listing daily and creating a good team.If you are a cash buyer in the Houston area, please feel free to connect with me.If you guys have any advice for a beginner in wholesaling business I am all ears as well.Eboni

I drove past the site daily to get home in Calico Ridge.

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