Many people have attempted (and failed) to outwit the IRS on this matter.

Most notably a rehab that went $100k over budget and a failed attempt at Airbnbing an Airstream that was a $30k mistake 

A small chip in the bathtub and that’s a fail, window doesn’t open good enough that’s a fail, bedroom door lock doesn’t lock properly that’s a fail.

LL Flooring, formerly known as Lumber Liquidators, is closing all 430 of its retail stores after failing to secure a buyer during its Chapter 11 bankruptcy process.

Much of this is on me for failing to enforce the lease terms - especially around an inoperable vehicle.

That's what you will fall to when you fail, the higher that floor is the more room you have to succeed.

Books and podcasts are full of survivorship bias, since we don’t hear about the folks who, with hard work, effort, and grit, failed and left, only the survivors get to tell their story.

That's where many fail as investors and those who fail are generally the ones sitting behind a computer making decisions without understanding the fundamentals in the markets where they invest.

The tenant fails to pay their last month's rent and leaves the place needing new flooring and paint.

.- The shower that you noticed is awfully hot but failed to check into it more before you left.And so on.