These would be what I would personally classify as B+ type areas.East Liberty is probably going to look the worst on paper as it has experienced a rather significant appreciation over the last 10 or so years meaning it will be the most expensive market to enter.

Hi, I am new to STR market, and I plan to get into this business after learning all the benefits it comes with.We all know how STR (for 7 days or less lease) can be great for depreciation tax deduction, as it counts as an active income/loss, while the property value is appreciated.From my understanding, the IRS states if a business is running at a loss for 3 years in the last 5 tax years, then it will be classified as a hobby, and I assume with that a huge tax bill will be on the way.My question is, if people are using LLC to run STR at a loss for depreciation deduction for 3/5 and more tax years, wouldn't IRS just consider it as a hobby?

I'm not fluent with classifying assets/markets but would guess my preferred market to be "B" and the "out of my preferred market" opportunities would probably be B-/C+.However, I just came across several properties that are about an hour and a half away that are in good shape and will actually cash flow.

If they have been properly classified as ESA you cannot do anything.

I am a former tax attorney and would classify myself as a "tax strategist."

They simply place a small classified ad that reads "Looking for buyers to purchase homes at 50-70% of true value"I have picked up endless buyers with this ad though "Free List of 45 foreclosed/distressed homes" call or visit www.$$$.com.

I know most HOA's will not allow Short Term rentals but if you that is classified as less than 6 months.

I believe if your son is paying fair-market rent, you can classify this as a rental and then take the losses, which could be advantageous.

*I could be wrong here but this is my current take on this* Since I don't need the income now and renting the house would allow me to classify the property as an investment. 

Same for any classified sites that service your area in Iowa specifically.