Let them know - as specifically as possible - what you are trying to achieve.

I have search for a while on t his specific question but cannot find an answer.

According to passive activity loss rules, every business is obligated to adhere to specific criteria, especially when it comes to short-term rentals.

Let me explain specifics for you. 

Every Friday they'll have their hands out, even if there were down days or injuries.Better to let a real Contractor handle this, they'll have multiple jobs and a lot more profit margin to dip into to cover their overhead....you should be handling the overall project decisions and going out and finding the next project, not running a kindergarden (as I used to call it :-)

Hi Hoa,- Hard money is fast efficient, expensive,  it has high rates and points and shorter term 6-12 months or less typically with extensions available- HELOC typically has no points but prime + 2-3% margin right now is almost the same rate as hard money and closing costs are a lot less than hard money and you can rinse and repeat and reuse it after paying it off so yeah overall its better than HML (hard money lending)Thats just the beginning of your research, the reality is in real life you might need both sources, make sure to have both ready and start with the best execution or option first and always be ready to use the others if the need arises.rehabbing is messy AF especially on older housing Illinois housing stock from 1895-1940's.

IF I AM WRONG, can someone please point to me where EXACTLY in the CRS that it states anything about a specific number of nights per year booked and where that does not conflict with this home being your primary place of return i.e., guys lives in his car in the back alley so he can rent out his house as an alternative to losing it because (reasons), is this not his primary residence? 

Before making any decisions, it's crucial to consult with a legal and financial advisor who can provide personalized guidance based on your specific circumstances.

Are there specific renovations or improvements that have proven to be more effective in lowering insurance premiums?

The golf sim will help garner more bookings but I do not think you can count on it to generate a specific amount of revenue.The ADU I would get real world prices on cost from a GC and then calculate the return based on other units with ADU in your area or if no comps you can get an idea by +1 the bed and bath and looking at larger comps in your area.