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.

I retired in 2008 with 21 years in the Air Force.13 sales in your first year is pretty impressive, particularly for someone on active duty.

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.

Are you actively investing or have an active portfolio?

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

@Alex Mull as some with experience in both turnkey and all-in active investing, I can tell you the biggest advantage is saving, time, hassle, and some full-service turnkey companies mitigate your risk by doing the upfront renovations and placing qualified residents while the company still owns the house.

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

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

I will be the one actively managing the property and doing most of the research, and my brother will act as more of an investor.