Short term rentals are more time consuming (can be like a part time job - but so can managing regular rentals) but tend to produce more income.The East End of Long Island is incredibly difficult without a lot of cash - high end rentals want high end amenities and upkeep of the property (I’m thinking paint refreshed more often, power washing the house & patio, etc).  

Coin machines with a couple hoses and soap dispensers 

@Abhishek Maloo1) you don’t have choice as to whether you claim depreciation, you have to recapture what you Should have claimed anyway.2) the depreciation and recapture will be a “wash”.  

@Guillaume LechatYou can ask the insurance company to help with mitigation: most have their vendor network.If it had heavy smoke damage, you will be hitting the entire place down to the studs.Likely you can salvage some of the contents and get them cleaned ( insurance company can assist with vendors who are vetted)The studs will need to be encapsulated with an oil based primer.Run an Ozone machine to kill any remaining odors.Commence build back. ( insurance can assist and or you find your own contractor to assist)

Now that the developer wants to wash his hands on this project, is there anything we should do to protect the interest of the homeowners before it's too late?

., locations in areas that backpacking hikers frequent had fabulously comfortable beds, exclusive use of washing machines & dryers, fabulously decked out, tiled showers). 

What happens if I were to replace something, say a washing machine or similar appliance - can I only claim the bonus depreciation in the year of purchasing the property?   

Credit card readers at machines are hardly ever worth it since they're expensive per card reader, have ongoing monthly fees for support, and additional CC % fees3.

5) Invest in a REITI have a block of these homes and want to set up a cashflow machine not sell them and pay taxes!

Some things I can think of would be:- Monthly Cleaning Fees after each booking- Supplies (toilet paper, shampoo, body wash, coffee etc)- Cost of furnishing As for what to expect: Internet: I'd say most companies range from $50 - $100 depending on the speed you are wanting.