They claim only 2-3 percent of the companies are audited so the more clientele they have the percentage of audits will be less even if they make some calculated risks.Few Deductions they highlight which you can get with proper planning and right CPA.1) 119A - Revenue stream bifurcation2) Augusta Loophole 280A - use primary residence for 14 days of business and pay you back without tax implications.3) Paying your medical and children education fee using c-corp4) offcourse the famous charitable llc - another program and package.Thanks for the insight.

Co-living is going to grow and grow as time goes on (but maybe less so in my neck of the woods, to be honest).

To the nuts and bolt question of what defines occupancy, it is the place you reside and spend the majority of your time/nights.

The property either has to be zoned a commercialZoning or - you have to own both HPR parcels and have one be a primary residence .

I am days/weeks away from trying it at my personal residence.  3500 sqft but only two people using it, so not sure how good of a test it will be. 

I've lived in Alaska, Idaho, Utah, Arizona, and California(current residence), and analyzing deals in my "back yard" at each location usually ends with me paying out of pocket to own a rental. 

out of state is more difficult than advertised. do you already own a primary residence? 

I honestly can't find returns like that in LTRs and I wonder if the problem is the way I am looking at things (you don't know what you don't know, right?!).

Tourists, retirees, and seasonal residents provide a steady stream of potential tenants.Lifestyle Perks: Let's not forget the amazing Florida lifestyle!

Jon, I have done this and honestly their nightly rates in most cases are within $20 per night of my place which doesnt have a pool.