I got so cocky that I decided to do a flip - I was only a landlord up to that point, but now in multiple states, and still self-managing some of those far away units.

As an out of state investor, I made the decision to pull my equity out as construction costs in the area are incredibly high with limited availability right now.I completely agree that luxury rentals would be my prime target for a 1031.

For newly constructed, purchased or renovated properties and also retroactive generally over the last 10 years, building components are properly classified into individual units of property and accurate recovery periods for computing depreciation deductions.

Also, I am involved in rehab and management, so I am claiming my STR income under the Schedule C.Why aren't you guys claiming it under Schedule C and getting the deduction?

If he files a transfer deed to the Land Trust or if he "sells it" then property taxes increase, the change in hazard insurance becomes a tangle.I wouldn't give authority to a bank person to collect rents, file evictions, deal with repairs... there are set up costs and on-going management costs.

Make sure you build a team of your CORE 4 in whatever state you invest in such as getting a reliable realtor, contractor, property manager, and attorney.

If you ever have any property management questions, I am always happy to help.

Some areas have specific departments or webpages dedicated to housing or zoning regulations that can provide detailed information.Another effective approach is to connect with local real estate agents or property managers who specialize in short-term rentals.

I had my fare share of financial modeling and asset management and can say I know how to analyze deals and asset manage very well.But, I was not too involved in the closing phases of the deals (lawyers, reports, debt placement, contract negotiations, parts of the DD...) so I lack knowledge in those parts, which I make up for in reading ton of materials and listening to podcasts.• After that I worked for three years as a management consultant at McKinsey where I sharpened my business acumen, problem-solving, storytelling, and presentation skills.

(e.g. condition, location, size)2) The marketing / sales procedures are inadequate (e.g. no advertising, unresponsive manager)3) The asking rent is too highThe reasons a house won't sell quickly are similar.