I do know people who have done it but they have enough money to take the loss if it should occur.

According to passive activity loss rules, every business is obligated to adhere to specific criteria, especially when it comes to short-term rentals.

I believe this tiny country ‘town’ has fewer than 10,000 people , per last I checked.

My insurance went up pretty significantly last year despite no claims ever and being inland away from hurricane and flood damage for the most part.

I started my STR last year in Sevierville and thought it would just be passive income as we had hired a pm. 

Many Goosehead agents are not prepared to deal with owning an insurance agency and don't last long.  

Haven't seen too many in Bergen but looks to be more common in Essex.I've been trying to RSVP but of course work has kept me late the last few months.

Regardless of which home you buy, you will need to spend some money in upgrades and fun features to maximize rentals.One last note:  I would not put too much of emphasis on a PSF analysis. 

If you are making more than $150,000, your rental loss, if considered passive, will be suspended and carried forward unless you can claim real estate professional status.

Or did you find out through escrow/title last minute?