I decided to take a lower CoCr for stable, high quality tenants and have zero regrets.

20% is not high for managing a STR.

Pairing this with a multi-year acquisition/cost seg strategy (accelerating depreciation) is how high earners in growth mode can significantly reduce their tax bill. 

I'm not a fan of complicated electronic locks because they have a high failure rate and are often very easy to hack.

., Profit & Loss statement, Balance Sheet)Credentials:No formal certification is required and may or may not have a high school diploma, but some bookkeepers pursue:•QuickBooks ProAdvisor Certification•Certified Bookkeeper (CB) from the American Institute of Professional Bookkeepers (AIPB)•Certified Public Bookkeeper (CPB)Caveats:Bookkeepers do not handle and probably should not handle tax planning, financial analysis, or compliance work.

With a dynamic real estate market, diverse neighborhoods, and high rental demand, Chicago is a fantastic place to invest in house hacking. 

PM fees are high, exactly because so much work is required in managing STR.  

There is always risk, and these are highly risky and regulated techniques.

It's crucial to consult with professionals experienced in 1031 exchanges and partnership dissolutions to ensure compliance and optimize tax deferral.Given the complexities, seeking personalized advice from a tax advisor or attorney is highly recommended.

I was able to fund a brrrr deal using 0% interest rate business credit cards ($95k across different cards), I didn't have to deal with lenders and their high interest rates or their draw request process to access renovation funds.