The second piece is whether or not you pass the Material Participation Tests found in IRC 469 and the third piece is whether your participation rises to the level of Substantial Services (think hotel, B&B).4) My CPA Says I can't deduct a loss that was generated! 

My plumber went and discovered tush wipes sitting ON the toilet tank while trying to test the toilet.

There are seven tests, however the most relevant tests for STR investors include:Perform substantially all the work related to the activity.Participate over 500 hours during the tax year.Participate over 100 hours during the tax year and no one else participated more.If your property meets one of the exceptions above AND you meet one of the above tests, you can qualify to treat your rental activity as non-passive.

Hey everyone,So I applied to test for a GC license in California, but was short on experience.

Tenants told me seller had tried to sell to investors before but after meth test came back positive they were going to drop the price significantly. 

That's a great situation that you're in with your employer sending you out to test these markets over the next 18 months.I am from Pittsburgh and happy to answer any questions you have about the market here.

You have 3 tests to meet in 2024, all 3 of them.1.

"One or more of the sink drain lines had leaks under them when tested.

The city stated they will send someone out to test the meter and yes, I charge the tenants a 5% late fee for late payments. 

And there is no way that you can run your business with $600 rents, but that is not their concern.The only way to know for certain if you can achieve those rents is if you put one on the market and test it.Gino