Determining whether the venture falls under a service or rental business hinges on the provision of substantial services; for instance, if a bed and breakfast service is offered, it must be reported on Schedule C, triggering a 15.3% self-employment tax.Moreover, personal use plays a crucial role in the classification of the property.

So, looking to purchase a co-op and the co-op is offering a credit towards replacing the floors. 
"Buyer to receive $5000 credit at closing, Buyer agrees to replace subfloor with 3/4 plywood, mildew resistant and sou...

You don't need a contractor for those repairs in the state of North Carolina.

And even then tenants get free legal services here in Los Angeles so you have to make sure that you do this right.In an ideal situation, you would buy with one of the units vacant.

After working with a lot of lenders over the years, the most important thing for me is their level of customer service (will they provide a lender letter promptly for you when you need to write an offer quickly, call the listing agent to help you get your offer accepted, pick up their phone for you, etc.) and do they close on time?

I then made my offer with the cost of the repair in mind.

However, as the owner you still need to spend more than 50% of personal services and more than 750 hours on the real estate business on your own.Alternatively, short-term rentals are generally treated as active business income and therefore are eligible to offset w-2 income.Navigating the Real Estate Professional Rules"When measuring material participation, a married taxpayer is required to count any hours performed by his or her spouse, even if the spouse does not own an interest in the business or if no joint return is filed.32 While this rule is advantageous because it makes it more likely the taxpayer materially participates in the real property trade or business, it is a trap for the unwary in the real estate professional context, as discussed below in Step 3.""

I would approach the mortgagor (owner) and let them know as a private and public service I am informing them that there is a problem.They appreciated the advance notice and information.

Does anyone know or have heard of or used Evolve Vacation Rental Management services? 

UI is great, dashboard is clean and I pay extra for the concierge service so they do my annual filings for me and I don't have to worry about it.