I don't see why there should be too many problems with doing something like that except for maybe consider checking with your building department and local zoning if a commercial property is allowed in that particular area that you're residential property currently sits? 

This on addresses your specific 2nd qeustion.The question is not whether clearing the jungle qualifies as a preservation improvement, it is whether you are even allowed to recover for preservation improvements at all with that property. 

@Jacob Maes There are many syndications that allow non-accredited investors to participate. 

There are some ways to get creative with down payments: seller financing, using an investment loan that allows "gifted funds", etc.Best of luck! 

I know there's some thought out there that you should cultivate direct relationships with insurance companies or construction companies, but  that's tying yourself to one industry when the platforms like Airbnb or Zillow are where a much wider pool of potential tenants are looking.Long-winded rant aside, I bet Atlanta has a great market for MTRs (and probably STRs if the laws allow them).

. -- Grand County, where Grand Lake is (also Winter Park), allows for vacation rentals pretty much unabated. -- Routt County, where Steamboat Springs is, has totally banned them.-- A little further south from you, the counties and cities around Denver are a little tougher on short-term rentals. -- Clear Creek County and Gilpin County both have caps on the number of Airbnbs and have met those caps. -- Jefferson County technically allows them but a county board has discretion over renewals, and I know of people being denied for what seem like arbitrary reasons.-- A little further from you, Park County is a great option.

However, our tenant, who did move in, has been asking for her money back for several months to no avail.My name is Rick Stewart andsince this website does not allow me to post my email, you can find me on FaceBook.

I would check with each of the cities for exact wording and zoning that allows STRs.

However, an essential exception emerged in the 1990s, allowing specific rental income to be categorized as non-passive.

A cost segregation study may allow you to deduct $150k in depreciation expense in the tax year of acquisition.This would create a large tax loss (notably different than an actual operating loss).