Finally, make sure that your short-term rental (STR) meets IRS requirements and doesn't get classified as long-term or this could prevent you from leveraging this tax strategy event though you are materially participating in property and it was placed in service.

Passive activity losses are those losses from activities in which the taxpayer doesn't materially participate.

A borrower must choose his or her own contractors to perform the needed renovation.Ø All Contractors participating in the HomeStyle Renovation Program must complete a Contractor Profile Report.

I agree except some clients I already have at limited service will not cash flow at full service or need material participation. 

I never understand people that dog the *voluntary* sites they participate in; if things are so bad around here, why not just leave and go somewhere else? 

If your plan has multiple participants, each would have $250K coverage on their cash account within the plan.If you will be in cash for an extended period of time, you can check to see if your bank offers enhanced FDIC coverage through a service called IntraFi. 

With a diverse background that spans over 14 years in business ownership, sales, marketing, media, and business development, I'm eager to bring my skills and experience into the BiggerPockets community.Before diving into real estate, I spent 16 years in IT with the federal government, and I'm also a proud Air Force wartime veteran.

We’re actively participating in auctions, but unfortunately, we missed out on our last bid by one bid higher.

@Sachin S.contact a CPA with experience with material participation for cost segregation.

It takes $14-20k per year to participate fully in datasources for most markets plus hours per week to see all the listings and movement.