The cons as i see it include loosing the 2 of 5 year cap gain exception, typically not an ideal rental because the emphasis at purchase was buying a good home for your family and not a rental with optimal return (my ex-home consistently has the lowest cash flow for equity in my RE portfolio), not disconnected enough from the property causes addition angst on damage and may result in over improvement.  

Hi @Steven Hamilton II,I have this same question (1065 vs Schedule E)  However the partnership is between Me (as a person) and my partners LLC (which consists of him and his wife).  

It sounds like there's no consistent place to go to given daily rate changes, quotas to hit etc?

The section references age in many places, consistently mentioning the end of the year.

Message me and we can set something up.

You can easily find this online but I will message you directly with some additional info. 

What i would recommend is joining a REA or other real estate meet-up group where you can connect with other likeminded individuals consistently and share knowledge.

He has paid dependably, but last night he read my message and has not responded to the renewal.

 @John Mason thanks for the message.

Sending you a message now