But if you don’t have it, you don’t have it.)At least you made $25k tax free on your $43k in 2 years. 

There are several different types of income in the US tax code.Two main types are “active income” and “passive income".Active income is money you earn from working, such as wages from a W-2 job or income from running a business.Passive income is money you earn from investments like real estate, stocks, or rental income from your RE portfolio where you earn $ without actively working.Normally, you can't use passive losses (like losses from real estate investments) to offset active income like your salary from a W-2 job.That is unless you are an RE Pro.The reality is, that Real Estate Pro status is just a filing status similar to filing married or jointly.And if you are a real estate professional you CAN use passive real estate losses to offset active income from other sources.To qualify as an RE Pro you must:1.

Quote from @Zach Engen: The federal savings bank does 5% down on vacation homes, talk to Jason Wray over there.Email? 

I have had a lot of success purchasing 5 bedrooms houses next to larger universities and have been able to easily find tenants.

Is that worth the trouble trying to convince your partners to change it?

Vrbo and Airbnb sync with each other for free, Vrbo has free dynamic pricing, both platforms send out enough automated messages for me.I check in on guests after they arrive to provide that small personal touch.We get consistent 5 star reviews with minimal effort.

Search BP for ADU appraisals to encounter numerous examples.

Jumping back to this conversation.

If so, you can't really pivot to short-term rentals there and have to capitalize on the inn vibe and in-house services.My major question is why is the current owner, who bought it after it sat vacant for twenty years, looking to sell you the problem they can't fix?

Happy to chat with you more about any questions you have about growing your portfolio in this area, feel free to connect!