CPAs often advise against pursuing this designation unless the time commitment and documentation are robust, as failing to qualify can result in IRS audits or penalties.The 500-hour rule pertains to material participation in specific real estate activities or businesses.

If they’re late a third time, you have a strong case for eviction for habitual non-payment—without risking the tenant showing up at the 11th hour with the money.For your specific circumstances, with only a partial month behind, I would guess there is a decent chance they can come even on rent and it would be a waste of your time.

@Aishan Gonaduwage what specifically have you read, and how OLD was it, about Detroit being on the decline?

The platform's main focus is processing mortgage documents in their raw form to extract specific financing terms for all properties in the city.

I am just starting out with a STR and found that VRBO is not very specific if they are collecting the tax and paying it to the State as a marketplace facilitator or am I responsible for this tax collection and payment ?

One workaround could be keeping a separate spreadsheet to track your adjusted tax basis accurately and only using Stessa for operational insights.You could also reach out to a cpa and see if they have a specific recommendation for software to use.  

@Jemini LeckieIf investing locally is not in the cards I would do some research and pin point a market that fits what you are looking for and then reach out in the forums for that specific market and ask more detailed questions.

Specifically; rules, regulations and permitting procedure.

Calling @ Nat Love:)Your BP colleagues are waiting to hear the specifics as to why you say the course is working for you.

For a yearly lease agreement specific to Phoenix, AZ, you might consider starting with the Arizona Association of REALTORS® (AAR) or another local real estate organization.