For example: We provide tax preparation and advisory services to people who invest in commercial (including multifamily) real estate, and high w2 earners investing in short-term rentals.

You will need to continue filing a MO tax return even in loss years.Given the complexity of passive losses and state tax credits, consulting a CPA can help optimize deductions and ensure long-term tax efficiency.This post does not create a CPA-Client relationship.

Hope all is well.

I am extremely familiar with the area, I know that it can rent long term, and it is perfect for my family's current needs.

Quote from @Srikanth Kumar: Hi Everyone,I’m relatively new to long-distance investing and am exploring the purchase of multifamily properties in Cleveland.

I have some upcoming repairs needed that outweigh the Homestead Exemption and plan to make my primary home a long term rental in the next 7 years but the repairs can’t wait.  

As long as you're filing jointly, both meeting the 2 yr use test, and either meeting the ownership test, then the full $500k can be claimed. 

While some reductions might increase short-term costs for investors, a more balanced budget could stabilize inflation and interest rates over time.

Perhaps the only homes that will last that long are the reinforced concrete structures that David mentioned.

Pretty common, you can definitely use commission as down payment conventional loans and not have it count toward IPC as long as you're on the loan.