(I do differ from your process in that I have my furniture as an "other asset," but I'll be deducting it all this year under the safe harbor election).Appreciate your response!

Moreover, the politics in Peru have rarely been conducive to foreign investment and it could get much worse with the election of a new president that some label a communist.

The other day I wrote an email to the HOA president to verify if this is allowed. 

Eastern time on Friday, February 3, 2017, President Donald Trump signed a memorandum to roll back the Department of Labor’s fiduciary rule by asking the DOL to review the rule again and likely to delay its April 10th implementation (although at the time of this article a delay has not yet occurred but it is likely coming).

I've talked with a couple of different folks, one who was the president of our local Board of Realtors and discussed the scenario with him and his words were "sour grapes".

I had a client recently who was planning to STR an the bylaws allowed it, neighboring unit was doing it, spoke to HOA president etc. and then right before closing they updated the bylaws restricting rentals to 6 month minimum because of a single incident that pissed off the owner occupants (1 “party” that wasn’t even a real party in the unit being STR’d).

Sure, maybe 50 bps for a few times, but then BLAMO - recession right before an election?

Multi-member LLC's electing to be taxed as an S corp can help to reduce our exposure to Self Employment tax since your real estate strategy (Flipping) will generative ACTIVE business income.

But, you can elect to be taxed differently (like a sole proprietor is single member, partnership, S Corp, and C Corp).

Inflation hurts re-election.