I feel this is too good to be true.

That makes sense, I feel like I have seen alot of heat around the sector between GPs and LPs so that is great knowledge to know to avoid that in the future.

Has anyone filed taxes yet as a W-2 employee who owns only STR, rents for on average less than 7 days per rental (STR), and materially participates (usually requires 100 hours or more in a year and more than anyone else)I’ve heard there are amazing tax benefits if you fall under all of the categories.

Feel free to reach out.

Feel free to contact me if you’d like more details. 

Doing it the other way feels like a bad idea…https://www.phila.gov/services/permits-violations-licenses/r...

so if I’m in 35% fed and 7.8% state and 7.5% social security that I pay as an employee I DONT need to pay that on rental income so wouldn’t I need to make that much more to keep $9000 after tax from w2 ? 

I feel like the old multifamily properties vacancy rates are very high?

Additionally, depending on your unique requirements and tastes, speaking with a local real estate agent might offer insightful advice.If you have more specific criteria or questions about any of these areas, feel free to share, and I can provide more targeted information. 

I would also let them know you no longer feel comfortable hosting this guest.