Given the complexity and potential tax-saving opportunities in real estate, it's wise to consider hiring a CPA with expertise in this field.Many clients who work with non-specialists find that their non-real estate preparers lack the specific knowledge to help them minimize taxes through strategies like depreciation, the de minimis safe harbor, partial asset dispositions, 1031 exchanges, navigating real estate professional status, the short-term rental loophole, and more.If you are looking to qualify as a real estate professional, use the short-term rental strategy, or complete a 1031 exchange, I would without a doubt recommend working with a real estate CPA.

If you are interested in holding real estate for the long term, then yes money can be made.

There's a lot of lenders that will make you feel stupid or won't explain to you in simple terms.

What online tool (eg LegalZoom etc) are you using to form your LLCs for your short term rental?

If you are having success in your area, why try to do this virtually? 

Believe it our not, we still have a lot of success with Craig's list, though not sure if it'll work with newer build assets.I would try to build relationships with businesses that your residents use, such as pet stores, restaurants, dry cleaners, etc.

Where are some places we can go explore in that area you've had success in? 

Once you get your systems down, you have a real estate business model that you can take to any market and be still be successful.

Short term rentals?

Once you get your systems down, you have a real estate business model that you can take to any market and be still be successful.