You may be required to make estimated tax payments when the property sells.It depends on what your 2024 total taxes due were and 2025 estimated total taxes / withholding / estimated payments are.If you pay in atleast 90% of the current year tax or 100% / 110%(Depending on 2024 income), you are normally considered good.You may want to consult with an accountant for more clarification.

The home has a separate studio in the back for rental income with solid rental history but I am still trying to get a sense of the likelihood of consistency in renting it out as a short term or mid term rental. 

It can still qualify if it's a fixer-upper, as long as the rental income from the property can cover the debt service.

Is your strategy more monthly income focused or appreciation?

Many, but not ALL are only focused on the commissions he/ she will earn and not focused, on your best interests.

Additionally, the property includes an outdoor swimming pool.The use of the accelerated depreciation strategy helps real estate investors to reduce the tax liability immediately which therefore increases their bottom line due to the offsetting of income.

You do have to keep an eye on your write offs to ensure you are showing a good NOI and not using too many write offs to show enough income to use for bank/lender underwriting on a mortgage/loan.

We’re actively working toward building a real estate portfolio that will generate passive income and create financial security for our future.

In 2021, my company earned just under $1,000,000 in net revenue and I personally pocketed about $325,000.

Analyze Rental Income PotentialRun the numbers for your specific property.