Hey Dallas - Love that you’re already thinking about this so young!

But we are testing this now.We operate 7 str's out of state...

We are working with an agency in Mazatlan and it seems like this will take FOREVER and we are urgently trying to sell it due to some financial difficulties.Any advice will help,Thank you

I know my value in bringing the deal, managing approvals and minor renos and having the team to get this done quickly. 

We purchased a property in early October and are placing it in service this week (mid November).We had intended to run a cost segregation study and try to accelerate depreciation which we can deduct against our W2 (assuming material participation).However, we have been reading through the IRS guidelines (eg publication 946 on Property Depreciation) and there seems to be the concept of "short year" which would mean that we can only deduct ~1.5/12 of a year's worth of depreciation in 2024.Is this correct or are there any different rules for STRs specifically?

There are some loopholes and tricks to know up front that can help avoid lost time and money.

I would be happy to have a call sometime to discuss your plans and see what I can do to help avoid some of the mistakes and also what to look for in this market as it is very competitive. 

Creative financing, partnerships, or shifting to long-term appreciation rather than strict cash flow might also help in this market.

I’m pretty sure FHA loans are assumable as well - I believe they discussed this on a podcast awhile ago. 

When I have seen this done or done this for clients, the properties being crossed are generally refinanced into the same loan, replacing your first lien (blanket/portfolio loan).