Hi @Ellie Narie,You are correct that if the average stay is less than 7 days it does not qualify as a rental activity, so it must be reported on Schedule C. 

There won't be a "popping bubble", but there will be a correction for sure. 

Does anyone know the details of bidding towards a 2nd mortgage of a home?

My idea so far is something along the lines ofReceive list of non-performing loans offered by a bank, Freddie Mac/Fannie Mae, some other source.Underwrite each loan to determine the price we are willing to pay, given the info providedSubmit bids on each loanPurchase the pool of loansReach out to each homeowner, determine whether new terms, deed in lieu, or foreclosure is best optionSell newly performing loans or foreclosed propertyDo I have it mostly right?

Correct me if I am wrong. 

You're correct on the appreciation, likely won't see much. 

It helps to have the name spelled correctly in order to find her. 

I've contacted several engineering firms to give me bids on plans. 

@Ryan Murdock - Your def correct..

@Jordan Solomon You're correct, you do need someone there to give you those estimates.