But I would urge planners to consider that the Sec 263 regs they rely upon for the justification for not expensing remodeling costs is actually an exclusion section which prohibits deductions under pspecified circumstances that being that the amount was: "paid out for new buildings or for permanent improvements or betterments made to increase the value of any property or estate."

With Amanda Frecks as a partner and a clear plan for strategic improvements, it was the perfect fit for a quick flip and profit.

Specifically, under a properly structured Trust the following limitations will apply during the period that the property is held by the Trust: (i) the Trust cannot raise new capital; (ii) other than in the case of a tenant bankruptcy or insolvency, the Trust cannot renegotiate or modify an existing loan nor can the Trust refinance or enter into a new loan during the period that the property is held by the Trust; (iii) the Trust cannot renegotiate or modify its existing leases or enter into new leases other than in the case of a tenant bankruptcy or insolvency (in the case of a Trust that adopted a master lease structure, this limitation applies to the master lease and not the underlying third-party leases); (iv) the Trust cannot reinvest the proceeds from the sale of the property; (v) the Trust cannot modify or improve the property other than undertaking normal maintenance or minor non-structural repairs; (vi) the Trust cannot hold its reserves other than in cash or short-term obligations; and (viii) the Trust must distribute all of its cash, other than cash held for normal reserves, on a current basis.

Even as my portfolio grew exponentially, my work/life balance continued to improve. 

We have pulled permit for one STR, like air B n B and have furnished one of the units.

I was looking at Melborne for something Air BnB (a year ago) I am keeping my eye on Tampa right now for potential commercial properties.... 

If they do it outside and do it recreationally and not in absurd quantities, it will air out in minutes. 

The loan does need to be secured by the property being improved if we are talking about a personal residence and personal itemized deductions on Schedule A.

Our average construction time is about 8 months after permit is issued and we are always improving.

We then use our money for the improvements.