Balancing cash flow with potential appreciation, running rental comps and vacancy rates, and bridging the gap between Class B and C properties is crucial.

Vegetation and Tree Removal are crucial especially for these lower end properties 

As for audits, the IRS may scrutinize high-income taxpayers claiming REPS, so detailed time logs and supporting documentation for material participation are crucial.

While some property management companies may prefer to control the listing for operational convenience, it’s crucial that you, as the owner, retain ownership to safeguard your reviews, booking history, and overall control of the property.

There is a really good one at the Boathouse in West Orange the first Wednesday of every month, check it out on Meetup.com

This enabled them to pay their agent.This approach is particularly crucial when the listing agent is unable or unwilling to negotiate the traditional 4-6% commission with the seller, leaving no commission to share.

Cash flow is crucial for a successful investment, and relying on appreciation is risky, especially for your first deal.

The studies can address current year assets as well as those placed in service in prior tax years without the need to amend prior tax returns.ConclusionUnderstanding the difference between short-term and long-term rentals is crucial for real estate investors, particularly when it comes to depreciation and tax planning.

I’m from the Orange County, NY area.  

I am in Orange County CAAny thoughts?