Those people overlooking what it means to “materially participate”Here’s the Material Participation Criteria:Spend more than 500 hours on the short-term rental businessDo substantially everything for the STR businessSpend more than 100 hours on the activity and no one other individual spends more time than you doSignificant participation activity for more than 100 hours, and your combined activity in all significant participation activities exceeds 500 hoursParticipating in the business for five of the 10 previous taxable yearsPersonal service activity (non income-producing) for three of the previous taxable yearsRegular, continuous, provable participation in the business for more than 100 hoursA Cautionary Tale: The Story of JacksonLet's take a moment to learn from the mistakes of others.

It is a mistake to think that an entity (corporate) veil can be easily pierced.  

Any mistake I made on this analysis?

Find out what that VA restoration will really cost youSecond, you are making a rookie mistake, one that the gurus play on to make you spend money for almost always useless sessions.

Can anyone give me one advice or one mistake to avoid as  I look towards getting started?

You'll make mistakes but you'll learn so much more than buying turnkey.

At this point, I'm just looking for a small assignment fee so I can close my first deal and move on to the next one.I did make the newbie error of getting the deal under contract before finding a cash buyer list, so perhaps that was my big mistake. 

We hypothesized that more people booked from a host with a face and name rather than a company logo, which likely helped with revenue too.Well-Timed Refunds: When mistakes inevitably happened, we limited exposure to bad reviews by issuing generous refunds right before guests checked out.

Joseph,Bigger Pockets is the best site on the internet to build a newtork and get all the hlep you need to avoid mistakes and save money! 

Our second land trust, however, turned out to be un-lendable due to our mistake of making the beneficiary structure too complicated.