Also, for those whose BUSINESS (as opposed to just investment) is STR, they can scale successfully while their experience and knowledge of the industry may allow them the opportunity to uncover and recognize those few opportunities that will provide a much higher than market risk adjusted ROI. 

However, my partners recognized my dedication and work ethic, and they offered me another investment opportunity.

If you consistently analyze properties, recognizing a good deal will be much easier when it shows up.

If you consistently analyze properties, recognizing a good deal will be much easier when it shows up.

This exclusion allows you to avoid recognizing up to 250,000 of gain (500,000 for married couples) on the sale of your primary residence.Regarding your investment property in LA, it does qualify for a 1031 exchange.

@Annwar Zahrieh I'm glad you recognized the forums being a wealth of knowledge.

Quote from @Ashish Acharya: @Andrew Katz Since you're likely using the cash basis of accounting, income is recognized when you actually receive it.

If you consistently analyze properties, recognizing a good deal will be much easier when it shows up.

But, we recognize that the experience you were having, multiple months without revenue and no clear time frame to be fixed, is not a typical experience with our company, and when and where we can help, we will.Our team didn't follow up as we said we would, so you asked us for updates instead of how we plan to operate, which is updating you proactively. 

I am interested in investing in something a bit more passive as I am getting older and, while I love the real estate asset class, I do recognize the need for multiple streams of income.