The general rule is: to anybody who was paid by you for services (work) or who received a profit distribution from you – if he received from you a total of at least $600 total during 2023.

There are several basic rules for a 1031 for identifying properties, timelines, and uses. 

Miami has strong demand for short-term rentals, but make sure to check HOA rules and city regulations since some areas have restrictions.

But with the recent change to depreciation rules on overseas properties, perhaps Japan is worth exploring again.Sorry I don't have much to add, but I've been following this conversation for the past couple of days and figured I'd say "Hello!"

@Polat CaglayanI've never seen a formula but here is a general rule of thumb for multifamily:The class of an apartment refers to the quality of the building, which can be determined by a number of factors, including age, location, and condition: Class A: These are the highest quality apartments, typically built within the last 15 years.

From my understanding, as long as you intend on doing a STR when you close, there are no rules against changing your strategy after closing, especially if you find that something else is more profitable.So in our case, the lender determined an STR would bring in ~$3500/month (with all of their conservative factors), but now that we operate it as a huge 3300 sqft Co-Living property, it actually brings in $7000/month.

.: And how would you enforce that ruling Brian?

Asking in the correct forum will get a better response.Read the RULES!

If that's not an option, I would recommend he look into his state and local municipalities' rules on how to handle abandoned vehicles.

So, for a $2,500 rent with a 3x income rule, you’d expect their combined gross income to be $7,500/month.As for utilities being included in the rent, some landlords in NYC do lower the income requirement slightly (e.g., to 2.5x or 2.75x) since tenants won’t have additional out-of-pocket utility costs.