Hello everyone, I'm looking for creative ways to deal with the following scenario. There are properties for sale by the state that are listed as vacant lots. The state got these properties from tax sales many years ag...

In any prosecution of a violation of s. 810.08 related to this section, whether the defendant was properly classified as a transient occupant is not an element of the offense, the state is not required to prove that the defendant was in fact a transient occupant, and the defendant’s status as a permanent resident is not an affirmative defense.

When classifying a property as an STR could you do that for 1 year, take advantage of all of the tax benefits, and then transition it into a LTR starting year 2?

Do you classify yourself as a real estate professional for use in the given scenario: The IRS rules for claiming Real Estate Professional Status are very clear, and require that two key criteria be met in the given tax year: More than half of the professional hours worked throughout the year must have been devoted to material participation in real estate activities;More than 750 hours of material participation in real estate activities in the tax year being considered.Or do you run it as a business as and use a schedule C? 

Vacation homes should be classified as a distinct category from single-family homes (SFH) or multi-family homes (MFH) due to their strategic nature rather than their asset type.

Every state calls/classifies different care facilities by different names - in KS we have SNF (Skilled Nursing Facility, Rehabilitation Center, ALF Assisted Living Facility - under the ALF umbrella - we have Residential Care Facilities and Home Plus as well -- all of them have their unique regulatory quirks.  

Otherwise, the lender will have to classify the home as investment instead of primary residence, and that will make (a) the interest rate be higher (perhaps 1%), and (b) the cashout LTV limit reduce from 80 to 75.Regardless of lender, you won’t be able to title in an LLC with a conventional loan.

Hey @Matt Broccoli, this belongs in the classifieds section. 

=====I wonder what Dave Lindahl would classify Cleveland Ohio as of January 2020.

In California you can choose to do MLS only, and not be classified as a "Realtor" by joining NAR, etc.