Quote from @Tom Enright: Hi Forum, I'm about to close on my first STR and plan on materially participating >100 hours this year as I'll be working on the property and plan to rent it the last 1-2 months of the year.

In our situation, would that seasoning period begin when we closed on the land in fall 2024?

As a local investor and agent here in Columbus, let me know if you have any questions or want to connect!  

I purchased my first single-family rental last year on LLC and I did the cost segregation study on that property now I talk with my CPA and mention about the cost aggregation study for filing the last year tax return (2024)he said that I don't need to use it because anyway my tax return is going negative because of all the expenses of closing cost insurance HOA and everything so what would you suggest me that use my Cross aggregation study for my tax return or not. thank you in advance for your response .Have you spoken with your cost segregation partner?  

I've found that Chase has great deals (almost no closing costs) for 5+.   

We closed on our first property on November 15 and plan to employ the fix-and-flip strategy. 

Few things to lock down:•They need to be full service with a legit staff—techs on payroll, leasing agents, someone handling PR when tenants get weird.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Just remember anyone who has acted as your employee, attorney, accountant, investment banker or broker, or real estate agent or broker within the 2-year period ending on the date of the transfer of the first of the relinquished properties is considered your agent and is disqualified from being your QI.So definitely ask them for recommendations but they cannot act as your QI on the exchange. 

Utilizing the preREO strategy, a receiver (i.e. a local real estate agent or property manager who you may already have a relationship with) could be appointed to make repairs and rent out the home during the foreclosure process.