The treatment of the short-term rental on your return will depend on if the property is considered 'active' or 'passive'.STR specific expenses/costs include cleaning fees, airbnb/vrbo commissions, furnishings, utilities, etc

Members of addiction treatment, clergy or social services?

My wife saves us so much time getting all kitchen items, some art, bedding, linens, bathroom items, window treatments and the hundred other things I don't have time to mention online and having them drop shipped.

I personally don't elect to go all in on any one thing so the amount that I have allocated to what is currently "off limits until age 59.5" is not enough that it hinders my ability to participate in REI opportunities, yet it is enough to satisfy some personal asset allocation goals by taking advantage of the relative easy with which these funds can be invested abroad.A couple other points to consider:No one can guarantee the rules, tax rates & tax treatment of "pre-tax" (or ROTH) assets/income, nor REI, 20 30 40 years into the future so in another sense it may be wise to diversify there too. 

It made more financial sense and was much easier than flipping more houses and paying taxes on ordinary income.Makes sense - "tenant" & "frequency" play a key role in being considered a real estate investor vs. dealer for tax treatment.  

@Mehul RupaniYou might look into whether the missed depreciation would be treated as an error and rectifying by filing an amended return.I believe a 3115 is only filed if a method was adopted/established (by consistent treatment on at least 2 consecutive tax returns) and you will be changing the method from an impermissible to permissible method.Wouldn’t recommend DIY in this area, it’s pretty technical and the full facts should be reviewed by a tax professional or offer proper advice before taking any action.Hope it helps

Also, estimated taxes depending on your situation if you earn regular W-2 wages that have withholding but will need to pay in estimates to cover any profits from your rentals.If you anticipate losses, make sure they are familiar with passive loss rules and the exceptions to allow you to deduct the losses.If you're talking about your parents giving you money, be sure they're familiar with gift tax laws or how to structure it to ensure you can still deduct interest payments as a mortgage rather than personal debt (you might want to get an attorney involved here).Looks like you're also considering some nontraditional financing methods, so whatever forms you're considering, ask about the treatment of the interest and debt payments related to that.  

The asset is a Residential home that is leased (absolute Net) to a medical treatment facility. 

If it has bacteria in it then a chlorine treatment can fix that.

A lower ROI, lower tax rate, worse tax treatment of investment income, lower growth rate, higher loan % and the numbers are much worse.Thoughts?