You have to work with someone that is experienced and very active in the field.

The worst thing is to pay for a service where you don't get a benefit.If you have STR's and actively manage them, then there is a good chance that you can treat the propreties as active instead of passive which will allow you to offset the losses with other forms of income such as wages, interest, dividends, gains, etc.

However, if you made the property available for rent in 2024—meaning you actively advertised it, listed it, or had it ready for tenants—you may be able to deduct certain expenses like mortgage interest, property taxes, maintenance, and depreciation for that period.

Are you actively investing or have an active portfolio?

Quote from @Noah Laker: I'm a real estate broker and my client is a high W2 earner, taking advantage of the "STR Loophole"His CPA told him that he can only do cost segregation on properties which are active STR's.My understanding was that, if he obtains REP status through any one of his properties, that he can take advantage of depreciation on any investment property, even if that one is not an STR.

Hobby income and expenses are treated differently than investment activities or business activities.

Hey Ian, since you're not an active agent I would connect with some local investor-friendly agents in your market.

Take time to learn through military-focused resources like Military House Hacking or Active Duty Passive Income, and connect with other military investors online or on base.

Good Morning , my name is Max and I am actively growing in the real estate wholesaling space.

To achieve REPS status you need to be actively involved in your rentals.