I acquired the property and took me almost 7 months to complete doing as much as I can when I had time. the house was gutted , electrical and plumbing were updated, kitchen was completely replaced, the whole house was completely retiled and updated to central air and heat.

I acquired the property and took me almost 7 months to complete doing as much as I can when I had time. the house was gutted , electrical and plumbing were updated, kitchen was completely replaced, the whole house was completely retiled and updated to central air and heat.

There are many accountants on this message board who specialize in real estate(air bnb) and can help you with your situation.The business loss carryforward may be helpful in the current year to reduce your taxable income.

Perhaps you can drive up income by doing Air BandB during the off-season, instead of a 9-month lease, but again that comes with additional costs and less security.Not properly accounting for the expenses above is the kiss of death for RE investors.

Hi Nathan,If line #4 has pressure even after the street valve is shut off, it could be an artesian well.Perhaps there was an old house there before the new one was built and this is a leftover well.If it shuts off when the street valve shuts off then it has to be tied to the common line.Since the city knows both homes have the same line, why is yours the one that needs to pay full price to split the new connection?

Maybe consider an air bnb strategy?  

Portfolio loans are more expensive and have less favorable terms so it puts more pressure on the cash-flow.

You're airing on the side of caution.

I fell back onto my second lender, and he was able to take a lot of the pressure off.  

IMHO total waste of time and money, I built homes for many years taking undo care about energy efficiency, air changes per hour etc.