I presume they are withholding at a 28% rate (standard for backup withholding).

I presume L.A. will have to expand outwards to account for its population growth until eventually people are just moving to Southern CA to taste the "LA aura".

You are the owner of this property and I presume it's a rental.Now you've put a fair amount of your own money into this property and devoted a tremendous amount of your labor.

No realistic way to fix that noise problem that I presume was the reason for the tenants moving out, and probably a contributing reason for the owner selling these.

I believe he is saying that he will take $10,000 from each of their IRAs, presumably as a qualified first-time homebuyer withdrawal, so it will not be subject to the 10% penalty.  

In order to treat a rental property as a STR, you have to have an average stay of 7 days or less for the year.So you need to have guests rent your property, at least two stays, before the year end to qualify for the STR strategy.That is the difference between these concepts.Bonus depreciation = technically need ZERO staysSTR strategy = need at least TWO stays with an average stay of 7 days or lessHi Adam,If I own a STR that averages less than 7 days per year and is filed on Sch C, but I have 1 guest who wants to rent it for the entire winter season (154 nights) which is when I get majority of my guests, I presume I would have to have a decent number of typical, less than 1 week bookings in the other months to bring my nightly average down.

I presumed a professional LL has office cert, my bad.

If you owned it, the new buyer presumably would offer you the same amount. 

Interesting point from @Travis Sperr about how the degree stays with you for life and presumably impacts earnings power for life.

I'm still dabbling into this and I presume with my W2 job, it may be challenging to also do PM.