@Tom Rairdon If you’ve owned your short-term rental (STR) for over a year, it likely qualifies for long-term capital gains (LTCG) treatment, taxed at lower rates (0%-20%) compared to your 33% ordinary income bracket.

I'm not an attorney,  but I believe you need to take out permits prior to doing the work.

What are the key benefits of investing as an LP compared to direct ownership?

Please double check this and make sure that wasn’t the amount for the raw land prior to the build.

Quote from @Mark Simpson: Interesting use case for ChatGPT Operator:I asked it to do a market analysis and compare a random Airbnb listing to others in the area.

When you see red flags, adhere to them even if the prior relationship has been good.

From the research I’ve done so far, it seems that South Carolina taxes investment properties at 6% which makes a tax bill quite high compared to a primary home.

I am starting to realize there has been a significant amount of consolidation in the space by private equity and other institutional investors. 3) From research it also seems like getting financing can be difficult without prior experience in the space.

(+1 sub)speaking of uncut gems. it's interesting that was the movie you were going to watch, given your situation. can't really compare RE to gsmbling, but the guy had heart and wouldn't give up for nothing. great job on persevering thru this storm! 

If you turn any two "bonus rooms" (rec room, office, formal dining room) into two more bedrooms, then you're at $5,950+ per month—a 138% increase in rental income.Now, imagine scaling this across multiple properties while keeping lower upfront costs compared to multifamily properties.