They also have a home vacancy tax in a lot of areas which applies to short term rentals. 

We want to get a few rentals up and running and then (if all works well) begin bringing other friends/investors in to invest with us.

I agree that the best way to make money is self manage your short term rental (not AirBNB, that is a platform).

Planning to sell my property in vegas, just wanted a second opinion on if these are typical, fair costs in today's market. Property is located in Vegas in Paradise. Thanks!

Purchase price: $145,000 Cash invested: $15,000 I obtained the home 9 years and am holding it for cashflow as a single family long term rental.

This would reduce my monthly expense to $3,568, saving $144/month.Questions for the Community:Which of these options do you think makes the most sense for a long-term rental in NYC?

LA City here~How do you market your rental to insurance companies directly for temporary home placement?

So you can have section 179 losses for your rental even if the rental isn't generating positive taxable income, as long as you have other active income. 

@Treza Edwards "I am reading the Rental Property Investing book and implementing the method that focuses on cash flow and that strategy states you need to have $300 cash flow per month, per property.

So I do currently have income from my rental properties, however it isnt enough to cover our current costs over here for the next 6 months.