Here’s why:When you refinance, the cash you’re pulling out isn’t considered a taxable event—it’s treated as a loan.

Exceeding these thresholds will cause this property to be treated as a primary residence.

My STR has a private backyard so I am able to treat it the same as cigarettes - outside only

Treat your tenants with respect, OVER-communicate, document everything to the best of your ability and you will be fine.

However, these are still treated as passive gains, even if REPS was used to claim active losses initially.

I treat tenants with respect.  

MTR is treated like an LTR from what I understand and I already own a couple LTR's so would rather do more of those than an MTR and avoid the extra hassle of furnishing, etc.  

I know the addage if you treat it like a hobby it will pay you like a hobby but if I have some extra cash maybe it's better spent on a 2nd home with the potential for income vs. just using that money in my primary home. 

Many fail to understand screening, managing, understanding the culture and treating people with dignity.  

So the property I bought had previous termite damage and we are having it repaired and treated however.