Here’s what to know.State Equalized Value versus Taxable ValueBack in 1994 Michigan passed the Headlee Amendment:(http://www.legislature.mi.gov/(S(k5m2va1uyfgwtbyjf4nqb1bx))/mileg.aspx?

Secondly I would look into if it make sense using realtor or not, there are markets that it makes sense and there are markets where unless you as the owner are paying agent fee most will pass. 

Whenever I have an investor pass on one of my deals I always follow up and ask why.

I got a reply from STESSA too - as I had suspected, that amount goes from the guest directly to Airbnb (pass thru) and hence does not get imported into STESSA as a transaction. 

I pass this on to my tenants who understand that it takes a lot to clean a home after someone was there for month(s) at a time. 

If not, even though you are a re pro, losses are passive & deductions are limited.There are 7 scenarios that will qualify as material, and you only need to meet one:*500 hours*Substantially all participation*> 100 hrs and at least 1/2*Significant participation*5/10 years*Personal service activity w participation in last 3 years*Continuous participationTo materially participate, you must be involved in the operations of the activity on a regular, continuous, and substantial basis.Once you pass the pro test, the material participation often comes along for the ride.You can elect to aggregate all rental real estate for purposes of measuring material participation under Sec. 1.469-9(g).Your time spent on all your rental properties (STRs don't qualify) counts as one activity, making it easier to materially participate.In order to make a strong case with your CPA and the IRS you need to document your hours.Best practice is an hours log where you are as specific as possible.

He and my mentor said I would be a fool to pass this up.

Thank you I did read something about that with McKee passing that.

Since time has passed the tax would be based on the assessed value.

(Owner passed.