Hello, I manage a couple student houses.

You need to actively participate in order for it to be successful.

To qualify, taxpayers must meet specific criteria demonstrating that they are real estate professionals who materially participate in their rental activities.How to Navigate the Rules:Step 1: Identify your real property trades or businessesHere is a list of activities that are considered to be a real property trade or business:RedevelopmentLeasingConversionConstructionReal property developmentReconstructionOperationRentalBrokerageManagementAcquisitionIf you participate in multiple of these activities, you may be able to combine them making it easier to meet the material participation hour requirements.Step 2: Demonstrate material participation in real property trades or businessesThere are seven tests to determine if you demonstrate material participation.

Whenever I speak to a group of students interested in real estate, I always stress the importance of networking and simply asking people to coffee.

Curious to hear the system you'd recommend for tracking material participation?    

One of the main benefits of participating in the Section 8 program is knowing that the rent will be paid each month (or at least the Housing Authority portion of it) - Now that's gone. 

We purchased a property in early October and are placing it in service this week (mid November).We had intended to run a cost segregation study and try to accelerate depreciation which we can deduct against our W2 (assuming material participation).However, we have been reading through the IRS guidelines (eg publication 946 on Property Depreciation) and there seems to be the concept of "short year" which would mean that we can only deduct ~1.5/12 of a year's worth of depreciation in 2024.Is this correct or are there any different rules for STRs specifically?

However, if you or your spouse can meet the Real Estate Professional Status (REPS) requirements by working over your w2 hours in real estate and materially participating, the rental losses could offset your active income.

The more his students buy/sell, the more money Pace makes.I believe the entire thing is a house of cards that will collapse when the market turns.

I'm not renting to students!