For newly constructed, purchased or renovated properties and also retroactive generally over the last 10 years, building components are properly classified into individual units of property and accurate recovery periods for computing depreciation deductions.

Property appraised for 245k; however, it was classified as a c5 which prevented most lenders from issuing conventional financing.I contested the appraisal and the appraiser held their ground, but their supervisor told me that if I slapped a coat of paint on the cabinets (these needed to be replaced due to wood rot) it would be an easy c4.I paid $520 for a new appraisal, contacted all my family and friends, deep cleaned the home and put a fresh coat of paint on the rotted cabinets and over the doors.

I found this property on KSL.com under their classified ads.

I am considering refinancing the property, but I am unsure if a bank will still classify it as a mobile home.

I'd talk to a CPA and see if you can make a way to classify yourself as a real estate professional this year once you buy the STR.

You may want to repost to the Classifieds Forum which is for advertising.

Hey Nicole,post this in Classifieds and you will probably get more responses. 

Hi @Brian Moore, The IRS has issued proposed regulations that classify the Monetized Installment Sale as a "listed transaction." 

They're classified as single-family for contract and loan purposes, but have a lot of cost savings that translate into higher returns.

If you sell property regularly as a primary business, or in the ordinary course of your business, you could be labeled as a dealer/developer and have your property classified as inventory rather than a capital asset.