The town treats it as a commercial lodging property so it's exempt from heavy-handed local STR restrictions.The sellers have been open for biz only part time in their retirement.  

I feel like too many treat this sort of question like it is a simulation or a spreadsheet.

We have the $34,000 to cover the 20% down, but would be left with around $8,000 to treat as an emergency fund for ourselves and properties.  

Generally, maintenance supplies like paint are categorized as supplies, while light fixtures can sometimes be categorized as assets if they are permanently installed.Fencing, Lumber for deck remodel, Roof replacement: These are typically considered assets because they are substantial improvements to the property that enhance its value and longevity.In terms of tax implications, categorizing expenses correctly can impact how they are treated for depreciation or immediate expensing under tax laws.

Refinanced in 2017 roughly to drop PMI, lower interest rate and add my then wife to the mortgage.Selling for 287k in August of 2024I know that I won't have to pay capital gains tax on the profits- my question is the profit from the sale still treated like income and taxed accordingly?

But the treatment after Maria make it clear its going to treated as a last-class part of the US. 

In addition depending on the lender the person losing the home could get a 1099c which would be treated as ordinary income.

But treat it like an investment. 

There's a lot of money in it.. plus as we discuss constantly on the forms both of the other big names have issues with the way that they treat their hosts.

But there are a variety of ways this could be treated that would change that answer.