., spending more than 50% of working time & 750hrs pr yr in RE business) or 2) short-term rental status, rentals with a duration of less than 30 dys)I do not qualify with a RE prof status, but I will be acquiring another property with the purpose of having it for short term rentals (property B), please note that this property is outside of the U.S., so my question is: I don't qualify as a RE professional status, but can I use the acquisition of the short term/property B as my "short term rental tax loophole" for the purpose of the cost seg on property A?

I LOVE these deals because you will essentially get a free loan for that duration to complete your renovations.Best of luck with your two projects this year, and reach out if you want to discuss more details.Phillip DakhnovetsGuardian Property Management & MaintenanceHi Elvis, you will need to fill out a constrcution permit if you are doing a major renovation, which requires a inspection from the city to ensure the code is followed.

The rest of the funds received will be considered a return on your cost basis and non-taxable as well.Thanks for the response Ben The house was never used as a rental, it was owner occupied by myself for the duration of the mortgage.

Often what they ask for is not what is always required... it likely says something like "Verify the duration the entity has been in business" and someone decided "A letter from a CPA would be acceptable and easy".  

Has anyone used HomeTap for funding leverage given that there's no monthly payment for the duration of the term?

A property inspection or review of recent upgrades/repairs is crucial.Private Lender Terms: What terms is the private lender offering (interest rate, duration, fees)?

✅ Preferred loan terms (LTV, duration, etc.)?

@David DachteraThe only evidence given on behalf of your point is that additional mortgage payments in chunks reduce the actual loan duration and therefore the total paid interest.

Going back longer durations, it has the highest increase.  

Let’s just say the hard money lender became my best frenemy for the duration of this project.