I have suspended Passive Activity loss that would reduce the gain, but not eliminate the gain from tax POV.

I have another feature for the future at a reduced cost to install.

While I'm not a STR expert or an attorney, I would recommend to all investors to take their properties out of their personal name and put in an LLC to reduce your personal liability.

Just remember to factor in that you will now have fixed monthly payments on the original three which will reduce your cash flow.

He needs to account for property appreciation, but overall needs to reduce property exposure.

At the end of the day, while I do think the current situation will, and already has, reduced the number of unqualified syndicators, as soon as the market starts to rebound, it will be back in force.We are in a market where very few are trying to get into the space.

.: There IS going to be a big impact on Real Estate, especially for Single Family and small Multi-Family that is Owner Occupied.The SALT Deductions are slated to expire at the end of 2025.Trump has already said that he will allow it to Expire:https://about.bgov.com/insights/elections/2025-tax-policy-cr...This is NOT a small change.The Standard Deduction gets reduced by about 40%.Then you get to deduct the SALT (State and Local Tax) that you paid PLUS up to $1 Million in Interest from your Mortgage against your Federal Tax Return.The only limiting factor will be AMT (Alternative Minimum Tax).In 2017 when this Cap was put into place, it made sense.However, now that the average Home sells for about Double what it was back in 2017, many normal Americans can benefit from the Expiration.I'm hoping that the Trump Administration does not extend the Cap.Too many people will love him more if he allows it to Expire!

Sock that money in boring investments like index funds and focus on reducing your living expenses. 

Also, I'm looking for something to keep me busy as I ease into my retirement.You are trying to hack the primary residence part to reduce taxes and if you really can do it and you really live there then it will be fair, but if you deviate at all, the town will come for you and you will never get anything renovated if they think you aren't living there and it's not liveable.

Main thing is to find out where his perceived risk is and what HE thinks will reduce his risk.