For example, what is the monthly revenue for the property and what are the "All In" expenses, including mortgage, taxes, insurance, utilities, repairs, etc...

Plus with no state income tax, cheap insurance, and very low property taxes, I’m probably starting $20k ahead of most people, and that’s a tax free $20k.).

You can use it as a downpayment on a property over $450k and use leverage tax free.

During escrow converted it to a Roth and paid the taxes.

Quote from @Jeff Roth: Hi Lina from Texas-Congratulations on your interest in investing in mid-term rentals and you are wondering how and where to get started.I get this question frequently from investors.Sometimes and investor is looking to keep their property cashflow positive as insurance and taxes have squeezed cashflow by turning units into mid-term or short-term rentals.First off, ideally, the property will cashflow as a long-term rental should something disrupt the mid-term rental model.You will also want to have the property be near where there would be a demand for mid-term rentals (hospitals, universities, research centers).Monthly rents for mid-term rentals are about 20% (+/-) higher than unfurnished similar long-term rentals.There are property managers that will manage mid-term rentals for you and I always advise my clients to use property managers to keep their investment as passive as possible and for compliance issues related to Fair Housing Laws and local regulations.To Your Success! 

What were the prior tenants during this time using it for?

I also wonder if some hosts only list during football season and then transition to mid-term rentals (MTRs) the rest of the year.New Tax Changes Coming in January 2025Starting January 2025, Airbnb will automatically collect and remit the 5% tourist tax for Gainesville.

Tax Savings:While it’s true that the stock market has been strong, real estate offers unique tax advantages that aren’t available with other asset classes.

To answer some questions, yes, there is a clause that states in an emergency situation prior approval is not required.

The big advantage is having the capital gains spread out over many years to avoid a huge tax bill.