Professional tenants can smell an opportunity from a new landlord from a mile a way. 

We are not real estate professionals.1) How would you handle the classification of the property in the 2023 tax year and would you utilize a STR depreciation strategy?

Readers should seek professional advice.

I have over 30 years professional experience so not taking anything personal.You have corrected nothing. 

Keep that as a backstop when the primary funds run out so that you don't have to pass up on a great deal that comes your way.LLC structuring is something that you really should talk with a tax professional about.

I am keen to learn from the experiences of seasoned professionals and collaborate with fellow investors who share a passion for real estate.

@Chris SeveneyI agree it is not the most professional website I have seen.

Licenses are typically required if you plan to work in a professional real estate role, like as an agent or broker.

The sooner you start these conversations, the better prepared you'll be when the right deal comes along.Local professionals can also be an invaluable resource.

You lose all of the control and these are long term investments - but in my experience the returns match what I had on the active real estate and I am hiring professionals to manage the assets.