The same skillsets apply to your question.

This allows you to report rental income and expenses directly on Schedule E of your joint tax return, avoiding the need for Form 1065 and K-1s.When you applied for an EIN, the IRS automatically classified your LLC as a partnership, which is why it instructed you to file Form 1065.

What I hear from various people involved in the STR world in Denver and Colorado Springs is that this bill is likely to pass, but that it's also likely to be amended from its current language.There are two potential areas of change I hear about:-- The number of nights rented as a short-term rental that trigger this reclassification.

It might be overpriced or might be correctly priced but is not generally desirable because of the work involved. 

This issue, if caught early, is probably fixable with out insurance involvement because the deductible might be more than the repair cost.  

The only flaw I had was I purchased the property out right, where I should of applied for a mortage.

It’s a great way to grow faster.HELOC or Equity Tapping: If you have equity in another property, using a HELOC or cash-out refinance could help cover the down payment without affecting your DTI as much.Seller Financing or Creative Deals: Look for sellers willing to finance directly, which bypasses traditional mortgage qualification hurdles.Scaling quickly often involves combining strategies—play around with what works best for your goals.

Yes, I have been involved with several "mold" properties that still had high mold levels after remediation.  

Your mortgage has nothing to do with your taxes.Here is a very rough starting point, however the actual calculation will involve more details:1.

@Jay Fayz for SFR (1-4 family) Classifications are mostly opinion-based.Not aware of anyone tracking eviction rates, except Evictions Lab nonprofit that doesn't like landlords.Here's some info that might helpt:---------------------------------------------------------------------------------------------------Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?