But as stated probably not for tax purposes for the seller. 

Marie Poe and James Wise.

Hi Jon from Boyertown, PA-You and your fiancé are interested in buying your first short-term rental and wonder profitable areas to purchase with a budget up to $500,000.I would look at places along the west coast of Michigan, Grand Rapids, Kalamazoo, and near Ann Arbor, MI.It is important to understand the local STR regulations in each community and partner with a property management company that can help your navigate that and manage it well for an excellent guest experience.Don't forget to look into bonus depreciation and doing a cost segregation study to increase the tax benefits of ownership and if you "materially participate" in the management of the property per IRS guidelines it can offset active W-2 income which most real estate cannot.To Your Success!

If you need financial help, ask under the "Finance, Tax, and Legal" forum.

Specifically:Will the lender only consider the rental income from the two legally zoned units, even though all three rental incomes are declared on your tax return?

Look into local tax incentives and financing options, and reach out to local real estate groups or mentors to better understand the market.Good luck!

To defer all tax you must purchase in total at least as much as your net sale.

I am an agent and while you are partially correct - the majority of life insurance policies are structured for leaving the death benefit to the insured's beneficiaries.However, when a client asks for an 'infinite banking' policy, they are asking for a vehicle to accumulate cash that has tax advantages, moderate growth, liquidity and no exposure to market volatility.

Where to get the most recent and accurate data for things like:Unemployment dataPopulation growthJob diversity and top employers in the areaVacancy rates (eg huduser.org)Property taxes and jnsurance costsI saw bp pro and reventure and a bunch of other websites provide some of this data, but i wonder how accurate and recent it is.

STR seems to have better tax benefits (in the right market) but is it worth it at a distance ???