Assuming you are both working and the rentals are long-term, rental losses up to $25,000 can offset W-2 income if your MAGI is under $150,000, with excess losses carried forward.This post does not create a CPA-Client relationship.

@Kevin Connauton, I agree with you that although Pad Split is a great choice for getting the rooms filled, they don't cover all your bases in terms of property management.

We are now doing short term rentals but we're thinking about changing to a small wedding venue. 

If he has a $5MM loan in place, what was that used for / is it coming due/ was it short term/ etc.?

To throw a wrench into things, if we were talking about real property/structures that were being short term rented, it's possible/likely that your depreciation period would be 39 years, not 27.5.However, a vehicle - which is what an RV is, regardless of how you're using it - is 5 year property.

Focusing on the best quality real estate will allow you secure more favorable financing terms, more likely to achieve favorable exits/refinances, more likely to attract the best capital partners.

I'll settle for a variation of this and give a little, but I simply pass on PMs who hand me a term sheet with 10+ different types of fees.

Bought it as a safe bet thinking it would do roughly $35k annually in short term rents.

I am interested in getting an FHA loan for my first real estate investment property but do not want to MIP loan term.

Short term rentals in St Pete are technically illegal but it doesn’t stop hundreds of other investors from doing it.