I was distracted and talking to someone about fix and flips and letting them know that the sale is taxed as ordinary income instead of capital gains and completely messed up what I was trying to point out.I was trying to say that STRs may help to offset some ordinary income with losses if you actively participate, whereas LTR losses only offset passive income unless you are classified as a real estate professional.

@Mark Ainley @Jonathan Klemm @Xingcai Wu It doesn't apply here, but I'll point out any landlord with a tenant applying for an aid program needs to participate.

We deal with it all the time when High W2/1099 Earners participate in our Commercial “Sale Leaseback - Energized Real Estate” deals.I wrote a short book on that exact topic

The material participation column would be read-only and change depending on the dropdown.

So proud.

Be kind to yourself and take a minute to be proud of the progress and good decisions up to this point.

This is because you need to show material participation.

All of those are "part of doing business". 3 years, 7 Airbnbs and hundreds of guests later I'm still a proud host and a big fan of the mid-term / short-term model!

If you consistently show up and participate, someone will take notice and may offer to let you tag along to learn.

I would say go with the market that you're most familiar with and have experience.Louisville and Lexington are amazing cities to participate in rental market.