W-2, 1099, etc.) with passive income/loss from rentals is to meet the IRS requirements for Real Estate Professional Status or REPS (this also requires material participation in addition to specific requirements to be considered a REPS).Once you have clarity on whether or not you can offset non-passive income with rental losses you can then explore cost seg to accelerate depreciation (and some of the accelerated depreciation from cost seg will impact year 1)...

Eventually, lawmakers realized the negative impact this was having on the real estate sector and created what is known as Real Estate Professional Status (REPS).

If you don't want to deal with it, could always say you won't consider amending the lease to add new adult occupants, but then run the risk of tenants just trying to sneak in "guests". 

I know to search every night at midnight, because a lot of resorts get released in their system then.So total cost for a week is your maintenance deposit on your resort, then your membership into the trading company like RCI or II which is about $70 per year, the $219 exchange trade fee, and then if you have a guest stay at the resort you book and not yourself as the owner of the traded week, there is an additional $69 fee for the guest certificate to use the week as if they were you.  

I'm looking at a multi-cabin STR deal that pencils out well from % a return perspective, but would involve an annoying amount of complexity managing guests when I consider the actual return in dollars I would be receiving.

With respect to Tenant's back grounds, pets, rental history, job status etc etc we are always looking to learn but feel that aspect is strung and thorough.

Do you qualify for real estate professional status?

It seems most cabins typically need something (or will), some you find during an inspection, others you hear from guests, and then you need to be prepared to repair it ASAP.

As for a Home Owner Association (HOA), whether it needs to comply depends on its legal structure and tax status.

I walked away with a thorough understanding of what it takes to run a successful Airbnb, from setting up listings to managing guests and maximizing occupancy rates.