🚨Use code SUMMITPERK to save $100 on your ticket Get your ticket here: https://get.biggerpockets.com/passivepocketsevent/Columbus Ohio on the map as one of the fastest growing cities that you can still hit the 1% rule and get amazing appreciation!

If you have a rule, enforce it. 

Since the HELOC was used for a business use (renovating the rental) you can deduct the loan interest against that rental using the interest tracing rules found in §1.163-10T. 

What does the 50% rule show the cash flow. 

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It's easy to get stuck in analysis paralysis - the key is creating a strategy that aligns with your goals and lifestyle.Then, you can start defining what an ideal investment property looks like in terms of returns and property types, allowing you to evaluate opportunities that fit.Good luck!

There are rules to follow!

I personally am interested in creating a long-term rental portfolio but I'd be interested in hearing any strategy, ie. house flipping, short term rentals etc.

Chances are very high that you are not claiming tax losses that you should be.There are many ways to create relationship problems and one highly successful one is mixing business with pleasure. 

@Joy Daniels I have one of my STRs in that market on Anna Maria and each “city” on that 7 mile island has different STR rules.