. #2. buy short term rentals that you self manage, the hours you claim are less and you don't have to quit your job, its what I call the "STR loophole" My CPA send me the exact requirements and I put it in a PDF if you are interested or want to share it with your CPA to see if you can qualify for it.

Lots of times the language is poorly written, and a work-around can be found.....although given you are a board member, you may need to adhere to the spirit of the covenant, even if there are loopholes in language itself.

You need to make sure the tax professional understands the STR loophole and cost segregation studies.

If your not RE pro or STR loophole qualified, best to stay focused on the more traditional tax reduction strategies like IRA, HSA and 401k 

So this is why I'm not buying anymore and buying index funds.I know RE investors who say they're paying very little in federal taxes either because they have REP status or are doing the short term rental loophole.

If you need an accountant who knows how to help you offset your w2 income via the short-term rental loophole, let us know!

Yes I definitely would be open, I don’t think my CPA is savvy with STR tax loopholes whatsoever 

They are better at finding loop holes so you need to make sure you are covered and walk everything down BEFORE paying. 

Hey @Ingo Bothe, Indeed STR can give great tax benefits for folks looking to do the "short term rental loophole". 

You maybe able to do a cost seg(needs to be done by a professional) and get bonus deprecation BUT you maybe not able to use it since you would need to be real estate pro or materially participating via the short term rental loophole to do so against your active income.