While researching my options to reduce my 2024 tax burden (already maxed the 401k and HSA), I see that it is possible to buy an investment property, use it for Short Term Rentals and as long as certain conditions are met, I can accelerate the depreciation which can be used as an offset to W-2 income.

@Bryce Kennebeck not sure how moving to an LLC impacts your ability to take the primary residence tax benefit.

-Title retired at the DMV-Be on an "owner owned" lot, without lot / service fees other than taxes. 

Say with your after-tax money?

(tax & municipal liens often survive the foreclosure - so if you buy one with those on it -  you are on the hook to pay them after the fact.)  

Real Estate Wholetailing: Close on a property and immediately list it on the MLS to sell at a profit.Owner Financing: Help the seller avoid capital gains taxes and give them a consistent passive stream of income without having to manage the property.While these strategies offer various avenues for real estate investment, thorough research, due diligence, and professional guidance remain crucial for success.

They mentioned that primary residence owners get a tax exception.

In San Diego, we call it the Sunshine Tax. 

And yes, I already filed my 2023 tax return.  

Potential ways to spread their tax burden over years as well.