Hello Everyone! I have a client that is asking me to manage a short term rental for them and i wanted to get some insight from anyone thats managing an STR currently as I have no experience in this field. I am interes...

So, if you don't, the buyer could potentially seek financial compensation for any damages or losses they incur as a result of the nondisclosure.

,Bruce, holding a property for potential appreciation (i.e. not actively generating rental or business income) is a valid tax strategy. 

Sorry for the bad news, but just stating facts.So balance the costs of things, as previously said, then also think about the cost of any potential rate increase that will probably happen IF a good storm comes through.= You make a claim, yes your rates will most likely go up.= You don't make a claim, but most others do ... your rates will probably go up!

I think there are other options at play with a potential cash out refi, acquiring a 2nd property while keeping the 1st, or even selling to acquire a 2-4 unit property instead of single family. 

But of course, living in Pueblo would present issues commuting to work and also, from what I've seen and read about, possesses less potential for growth, has higher crime, and will demand lower rents.I'd love to get a MFH  but they're prohibitively expensive in CS and I don't want to get over-leveraged for one, assuming I could even qualify. 

You will need to deal with not only financial issues like inheritance taxes, IRS tax liens, etc but also potential legal issues such as interested parties not notified about the auction properly.

If you proceed without any adjustments, the following will be true: - 50% of your potential depreciation recapture will be recognized immediately and become taxable in the year of sale

I'm soon to be leasing the PA farmland to a solar company on a long-term lease (more yearly than my W2 job, and 3% escalator, compounding).With such an advantageous situation in PA, I want to be able to maximize my potential.

You have become an insurance company, only you didn't get a just premium.The potential of rent forfeiture is part of the business in reserving a vacation home, and everyone knows this going in.