Is the number of licenses limited or restricted?

You can write off the  property tax (up to salt limit) and interest on a primary property.

I now offer "limited service" as a PM for 10% which includes marketing on 20+ channels, 24/7 guest communication, daily pricing, automations and software connections, but it is 10% of revenue. 

However, passive loss limitations apply—if your AGI exceeds $150K, you may not be able to deduct the full loss in the current year but can carry it forward to offset future passive income.Future Considerations: If the property generates taxable income in later years, Kansas allows a credit for taxes paid to Missouri, but since you’re reporting a loss, this doesn’t apply.

Unlike long-term rentals, STRs can be treated as non-passive, allowing depreciation deductions, including bonus depreciation (40% in 2025) on eligible assets.For tiny homes, tax classification matters:If mobile, it is considered personal property, allowing 100% depreciation under §179, subject to income limits.

Our current tech stack is a mix of Buildium (very clunky), Breezeway (great, but limited without a PMS), Xero and Google Suite tools with lots of spreadsheets involved.

However, the tax treatment differs between short-term and long-term rentals:Short-Term Rentals (STRs): If you materially participate (work 100+ hours and more than anyone else on the property), you may be able to offset rental deductions against W-2 or other active income, offering greater tax benefits.Long-Term Rentals (LTRs): If your AGI exceeds $100K, your rental losses may be limited, unless you qualify as a Real Estate Professional (REPS).If you plan to expand your rental portfolio, consider an LLC later for liability protection and easier management.

Some critical areas to clarify include:Marketing: How do they advertise vacancies, and what platforms do they use?

You have the ability to sell while limiting your capital gains tax because you lived in 2 of the last 5 years. 

Simply put, there are a limited amount of PMs that will operate in the area, so I ended up with poor management.