Hi @Leila, can you please share your experience with Y Street Capital with me as well?

Hi Rebekah, I own in South Milwaukee as well.

It's crucial that this allocation is reasonable and well-documented to withstand IRS scrutiny.

That said, no matter the size of the property, the right team makes or breaks the deal—experienced management, solid underwriting, and a clear game plan determine how well the property performs long-term.

I think tax benefits should be secondary to buying something that would work well as a STR.I would recommend you consult a tax professional to see what possible tax benefits you could receive from buying this STR.

I see that you are in Royal Oak, I know that area pretty well.

I just starting using truepeoplesearch.com as well. 

@Brandon Pimm my friend and I are in jersey as well looking at Allentown as potential first rental property purchases.

I started diving back into learning by reading the Real Estate Rookie and was hoping to put myself out there and find some like minded individuals that are in the beginning stages of their investing career as well.

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!