Ohio also has a couple of other special rules such as the CAT tax and a funky bonus depreciation treatment.

In short, getting the place restored was akin to remediating damage from a natural disaster.In the trash and belongings abandoned by the tenant, he also left the OM for his healthcare real estate endeavor, nasty-grams from the IRS about his personal taxes, and collections letters from several creditors after him.I got burned here and so did my property manager.

It feels more natural and definitely eases the awkwardness that can come with the “salesy” approach.

There are some partnerships that are designed by nature to be short term, so there’s not as much to lose if things don’t turn out rosy.

Investing by nature implies there is a risk of loss like this.

The reason is, the original farm house + 5 acres in the 60’s was occupied by a group of 5 families that were into some strange kind of “natural living “ they only ate a few kinds of fruits and seeds.

As you have experienced this is the nature of these transactions.

Answer: No, buying an STR doesn't change the nature of historical passive losses on other LTRs you own and carried forward from prior tax years 

first thing one should do is figure out if they quality the 2  in  5 tax treatment and if the home has appreciated a ton like 250 to 500k which is very common in coastal markets and Denver for instance.. selling would be far smarter than renting. pocket the tax free and find another rental. turning it into a rental you lose that one time tax treatment which in my mind is the very best for real estate. 

Sources for insurance and property taxes: Insurance - ValuePenguin, State Property Tax Rates - Rocket Mortgage.Low risk of natural disaster: Natural disasters can devastate your property and the surrounding community, leading to job losses and the closure of shops and businesses.