I'd consider Florida because I love that they have tackled the squatter issue except I know insurance prices will creep up in the next few years.

However, this is a difficult qualification to meet, especially if you have a full-time job outside of real estate.Don’t worry if you aren’t able to qualify for REPS status, because there is another strategy that is referred to as a “loophole”, which is the STR strategy.Per Section 1.469-1T(e)(3)(ii)(A): there are six exceptions where your rental property income is not automatically considered to be “rental activity” and thus may unlock the door for being able to offset these losses against your active income.The average customer use is seven days or less.The average customer use is 30 days or less and significant personal services were provided (for example, daily housekeeping).Extraordinary personal services are provided, regardless of the duration of customer use.The rental is incidental to a non-rental activity.The property is available during defined business hours for non-exclusive use by various customers.The property is used in an activity conducted by an S Corporation, partnership or joint venture in which the taxpayer holds an interest.If your property qualifies by meeting one of the exceptions above, the next step is to demonstrate material participation in the rental activity.

So far, every case settled out of court and covered by property owner's insurance - except one.

There are always the exceptions, but overall we have had success with this.

Gross revenue is all income except taxes collected. 

The aim is to expose businesses attempting to conceal illicit gains, thereby identifying those involved in criminal activities.As for a Home Owner Association (HOA), whether it needs to comply depends on its legal structure and tax status.Most HOAs need not file, except 501(c)(4), which probably need to comply.Who is Exempt?

I also have a separate septic tank rider that specifically calls out nothing except toilet paper and enzymes can go into the tank.

The aim is to expose businesses attempting to conceal illicit gains, thereby identifying those involved in criminal activities.As a real estate investor preoccupied with due diligence, you have little to fear…except failing to file by year-end.Who is Exempt?

If its an exceptional tenant you may want to give them a slight break.

There will always be exceptions but this will be true more times than not.