This single-family residence spans approximately 4,250 square feet and features 5 bedrooms and 5 bathrooms.

I highly recommend a well-qualified REALTOR who works with investors and knows how to help you best.7.

Hello all,Has anyone sold a short term rental owned over a year  as a non real estate professional that qualified as short term capital gains tax deductions with expenses and depreciation?

As Brittany referenced, you do not need a two year history in order to utilize the income in qualifying, in fact you can use the income with no tax filing in certain cases.

A 1031 exchange doesn’t apply, but funding through a self-directed IRA can defer taxes, though profits from debt financing may trigger UBIT.To reduce taxes, consider forming an LLC for better expense deductions, offsetting gains with investment losses, or holding the property for 12+ months to qualify for lower long-term capital gains rates.This post does not create a CPA-Client relationship.

Investment Info:Single-family residence buy & hold investment.

I highly recommend a well-qualified REALTOR who works with investors and knows how to help you best.7.

Cat odor is far more problematic than a small dog, but I would check landlord references to confirm how they've maintained their last residence.

They’re requesting what feels like an unreasonable amount of information, and the demands keep escalating.So far, they’ve asked for:A video tour of my home officeCredit checks on me and my partnerCopies of the deeds for every property we ownA copy of my partner’s home lease and utility billsBusiness phone billsA signed letter from the bank verifying our accountsBank statementsHonestly, it feels more like qualifying for a loan than trying to become a customer.

If there is a large amount of equity, one party may have to buy out the other - if they cant afford it/cant qualify, then the property is sold.I deal with this frequently with mortgages.