In your scenario, claiming that $117k depreciation deduction could lower your taxable income from $700k to $583k, which is a huge benefit in the short term.As for the RE pro status, if one of you becomes a full-time real estate professional, you can potentially offset active income (like W2) with passive losses from real estate. 

But as was mentioned above, you need expertise and experience.For the first 2-3 years of activity investing in real estate, I had to use my own money sources for down payments.

This is a highly regulated activity by the CFPB.

Many times, hosts think the company or broker provided a STR policy just to find out when a claim is made there was a little sentence in the fine print that stated any STR activities canceled the policy out.

I’m also looking to connect with other local investors, real estate agents, and anyone who’s active in the Pittsburgh market.

Currently, I’m actively expanding my portfolio in Austin, Tempa, Dallas, Houston, where I’ve seen significant growth and demand for multifamily housing.

Are hard money lenders active in the area.

Quote from @Andrew Lawlor: I've been actively investing in short-term rental properties for the past three years, managing one live property and another that will go live in two months.

Typically a real estate agent can service four times more listings then active buyer clients with the same amount of time commitment.Marketing to buyers usually leads you to buyers.

We've used Reg D 506(b) for our syndications and ONLY communicate with investors that have a prior relationship with us.There are two illegal activities that I see all the time.