.- Cities like Toronto will levy another tax (Vacant Home tax) equivalent to 1% of the current assessed value of the property if the property is not occupied (rented, owner-occupied, family occupied, all count as occupied)- Land Transfer Tax: while the Province of Ontario charges anywhere between 0.5 - 2% of Land Transfer Tax when your transaction closes, you should expect to pay this amount twice if the property is in the City of Toronto .

One CPA is telling us that we need to file a partnership return for all LLCs and the other CPA is telling us that we can place all properties on our Schedule E and use Schedule C for our property management activities We like the Schedule E and C approach because it's cheaper.

Quote from @Andrew Lawlor: I've been actively investing in short-term rental properties for the past three years, managing one live property and another that will go live in two months.

I have down an owner financed deal in 2024 and still actively use a HELOC in support of my flipping.  

I'm going to follow this to see what tips folks provide.MikeHey Mike, I am actively investing there so feel free to reach out with any questions!   

Actively looking here in Wichita right now with a duplex in a nearby town.

If you have a competitive advantage that you can bring to your co-hosting/managing, then I would recommend looking for owners with properties that mesh well with your target resident.For example, if you are an active duty military servicemember with unique insight into what a servicemember is looking for, lean into that.

If you are hoping that this property will stand on its own with you living in it and not having to put your active income into it, then it might not be the best option for you right now. 

If the investor is actively involved and can stay on top of materials, roll with it!

Learn what people are doing right now in this difficult market and find a way to replicate their success.A lot of people say they are actively investing.