Marc Shin
STR bonus depreciation when purchasing with an LLC?
15 September 2024 | 11 replies
The key factor is ensuring the property qualifies for favorable tax treatment by adhering to IRS rules regarding short-term rentals and material participation.For the 7-day rule, the IRS requires that:The average guest stay must be seven days or less for the property to qualify as a short-term rental.If the average stay is 30 days or less, you must provide substantial services similar to what hotels offer, such as daily cleaning or concierge services.Regarding material participation, to further classify the income as non-passive, you must meet one of the following criteria:You spend more than 500 hours actively managing the rental in a year.You manage the business yourself and spend at least 100 hours, with your involvement exceeding that of any other person involved in the rental.Please note there are actually 7 ways to qualify, the above two are the most common.
Siddharth Patel
Potential Bed and Breakfast | Ways to evaluate the deal!
13 September 2024 | 12 replies
New Orleans is very saturated with hotels, and STRs.
Rodrigo Orellana
Hotel to Apartment Conversions
9 September 2024 | 0 replies
Is there anyone here who either has experience in hotel to apartment conversions or is interested in getting into that field?
Jonathan Mueller
I bought Schitts Creek.....I bought a motel, now what?!?!
12 September 2024 | 58 replies
Many of the larger hotels use a system called Opera for their PMS.
Chris Lindsay
Looking to connect
12 September 2024 | 5 replies
Hello,My name is Chris and I am a member of of private equity group that buys apartments and hotels.
Kristin Moore
$300 off BPCON 24 - Ocean View - 1 Ticket + 1 workshop = $2,700 Total
11 September 2024 | 2 replies
I was told you could contact the hotel directly to see if they could extend on either end and keep you in the same room.
Nina Penuela
What do you think makes a good property manager?
14 September 2024 | 32 replies
It's not a hotel, the houses won't be perfect (unless it's new construction or luxury).
Lori Brittain
writing off meals during REI meetups
12 September 2024 | 12 replies
I attended a real estate conference (not a local meetup) and I was told by a CPA I couldn't deduct the flight, hotel stay and meal costs.
Peter Aziz
Big Bear Short Term Rental Market
10 September 2024 | 10 replies
I'd personally rather stay at a hotel in BBL with daily service, cleaning and staff that I can talk to.
Jesse Malhotra
Advice for college freshman
11 September 2024 | 17 replies
The HOA of some buildings who did not have the "lodge or hotels" stopped allowing Airbnb.Commercial: it's a different beast, if you refer to warehouse, office or retail (and not multifamily).