When you charge under market rent, the IRS deems that you do not have a profit motive and, therefore, disallows all rental expenses. 

Starting from my backyard I'm looking to connect with some vets in the industry and familiar to the area/market.

Have you considered what property types or markets you're interested in?

I am working with some NJ clients on turnkey investments in the Midwest/midsouth markets currently.

I am considering investing in the Ohio market.

Quote from @Samuel Hudson: Hello friends I am new the market and recently bought a home in Weehawken 6 months backs .Its a three family home and we are currently doing renovations Right now.The rent leveling board told me that two units would have to follow a rent of 1650 for unit 1 which has three bedrooms and another unknown amount for unit 2 which they don’t have the information for .The previous seller I purchased the property from bought it as a tax lien .He has kept the property vacant for two years with no tenants before selling it to me .However ,the previous Owner he bought it from must have had tenants .I am putting in a lot of money into renovations and want some clarity on the situation I am in .The property has been vacant for the two years and currently still is as we are doing renovation .It would be really appreciated if anyone can assist me on what information needs to be provided by from the previous seller for me to be able to set the rent based on the market value .Thank you . 

Quote from @Bryan Stengel: Hi Tariq, the STR markets are very saturate especially in the prime areas. 

One week into 2025 and the US housing market is facing considerable new challenges. 

Most investors take a look at the available rental units in a particular market,  determine if its a good or bad market based on DOM and either dismiss the market all together or replicate the housing units that are absorbed.

Study the market.