To make sure I have this straight, can my CPA call this line on my behalf right away?

If you are looking for a straight rental property, the markets in Bell County like Killeen, Temple, and Belton are great plays currently.

If you want to boost cash flow by cutting down on insurance, just raise the deductibles. 

What makes it interesting is it has several parcels of land with the sale of the house which we could probably sell off the larger parcel for about 25-30% of the total purchase price.I know the basics of Section 121 but I'm trying to understand if there is a way to extract value from our equity position in our current house to make this a better choice than finding a straight rental.Current house Purchase $215K Current Value $280-290KOwe $160k 15 year mortgage at 2.75%Mortgage + Tax + Insur $1450Possible Rent $1800-2000Possible Live-In FlipPurchase $300KRepairs ~$20k-40kARV $325-350k (excluding land to be sold off)Land Parcel Value to be sold off $80k-100kI would love to hear your creative thoughts on this situation and how I can optimize.Thanks!

Handrails are generally straight forward.....

Also look at the monthly bills for electric and heating....and if there is a pool(s) the water evaporation replacement costs.Does it have 100 year old chimneys that are unusable and crumbling, needing expensive scaffolding re-pointing or removal.I'm just pointing out there are LARGE dollar outlays beyond normal for these big Trophy Homes that it would be smart to budget for monthly.Do you intend to ride a lawnmower and cut the grass yourself or pay for it--etc...

I won't go into too much depth since this is fairly common knowledge, but back then the banks were straight crazy.

So, this would cost you a lot of money, thereabout cutting into your profits.

If you are re-wiring the house, you do not have to demo all the walls, just the cuts to run the wires.

Originally posted by @John Underwood:I've never had provide a CC to Airbnb and if I had to send a guest money it would come out of current Airbnb income.The only reason Vrbo has my CC is to pay the $499 annual fee (which is worth every penny)John, are you grandfathered into the annual fee or something with VRBO so they don't take a percentage cut of stays?