I see Seabrook as a place to visit when you want and use the losses to offset high income net worth stuff.

The owner needs the stable income a lot more than the pennies on the dollar from a sale at present so I am meeting with an accountant next week for the first time to pick their brain about a structured buyout.

The title and loan is obviously in his name currently but we agreed to fund renovations (and yes, we created a written agreement for this) and then share in the rental income profits.

I'll second @Jonathan Greene - STRs hemorrhage cash before you earn a dime in revenue.

Thinking about setting up a property management company to use for my rentals to show the income as part of the management company rather than personal finances.

The title and loan is obviously in his name currently but we agreed to fund renovations (and yes, we created a written agreement for this) and then share in the rental income profits.

@Shiloh LundahlTheoretically assuming properties were identical in every sense yes because I don’t need cash flow and would rather have the extra $100k in equity.Now $600/mo could get you another $100k mortgage to get you another property that could potentially also cash flow but for me personally I am in equity play mode now income mode - just my personal choice but nothing wrong with the other scenario

The assessment process for commercial properties often involves evaluating the property's income-generating potential, which can lead to higher taxes than residential properties.

Here are some steps and considerations to help you make an informed decision:Evaluate Cash Flow: Create a detailed spreadsheet that outlines all income and expenses associated with the property.

I listened to a podcast recently where the manager was earning 10k a year on renting their own pontoon boat.