You must report rental income on Schedule E and can deduct rental expenses like repairs, maintenance, property taxes, mortgage interest (allocated between personal and rental use), and depreciation for the rented portion.

So you have to weight risk to reward.. and sometimes we have to eat one that we bought it happens..

(more legal fees, business fees vs. renovations).Research Points: §1.263A-1T§195(c)(1)Ervin E.

thanksRyan  @Ryan RuppertShopify is a great platform for e-commerce, but it might not be the best fit for managing STRs in the long term.

Thank you for your reply I will send you an e-mail

ANDAt least 5% ownerYou might want to check out this thread with sample REPS Log / Activity tracker that meets IRS guidelines https://www.biggerpockets.com/forums/51/topics/816680-real-e... 

Theres so many problems, this is a team deal scenario and one needs rules;  never take a contract less then 7 days prior to the auction, and NEVER NEVER N E V E R close allowing the seller to stay in the house after closing. 

If you are interested in becoming a vendor you can find the vendor paperwork package on our website and submit it to Jade@ - end is the same as my e-mail address below.

If you provide any kind of substantial services like catering, car service, etc you will change you tax situation and no longer can file under Schedule E.

Proceeds to segregated account to be disbursed ONLY on rental property improvements and expenses to preserve the deductibility of interest on your Schedule E.