@Paul Sandhu - impressive@Lucas Carl - TMI@Ethan Cooke - great tip@Sid Payne - You're not the first to state the same, really like it with some learning curve

Also, here's a great article that describes the REPS status:https://www.aicpa-cima.com/resources/article/tax-rules-for-r...And another for the passive activity loss limitation that other mentioned:https://www.irs.gov/publications/p925

So out of state investors: what other data points/research do you use to determine where to invest? 

(This article suggest you may be able to go as low as 5%)Joe

We would then use the short term rental income to fund the long term multi family portfolio state side.

Number of National Association of Realtors members in the United States from 2009 to 2022  You are so clueless Ken it's nauseating! 

Sharing an article I published here on BiggerPockets last year related to this topic on all about the financing options / qualifications / underwriting for STR income in case it helps you!

@Lisa BurnsIt would be completely absurd with no real state experience to learn and do a syndication in 6-12 monthsSorry for the bluntness but I can name many that have tried this and failed miserably and lost everyone’s money over the past few years.

I’ve been running some numbers and the added really nicely.I am an out of state investor in Kansas City MO, and I am based in North Hollywood, CA.I look at couple properties in ZIP 64130 I heard it’s a C class area.I wanted to hear your thoughts about the numbers i put together and if you familiar with the area you can share some Pro and Cons.Thank you fir hanging out here ! 

Also will be working remotely so going to look towards Tennessee as a place to purchase as their is no state taxAdvice welcome especially in teach me like im 5 years old formatThank you