@Natalie Kolodij if one qualifies as Real Estate professional in 2020 and has significant net operating losses, can these be carried back to the prior 5 yrs to offset active W2 income even though one was not a real estate professional in years 2019, 2018, 2017 etc?

Just prior to my first visit to her home, my wife confided they had used an outhouse for years, only recently converting it to house the generator.

The effect of this is that capital gains taxes can be deferred over a longer period of time and, prior to the vesting of the balloon payment (when that payment becomes due to the taxpayer), the taxpayer can potentially negotiate a new installment obligation with the trustee (think of it as a refinance) and continue the tax deferral effect.Please reach out to me if I can be of service.

.• The Mortgagee confirms Borrower income is equal to or greater thanit was prior to the Disaster using a recent pay stub for income, W-2,bank statement or other documentation reflecting the amount ofincome.• As an alternative to providing income documentation, the Borrowercan complete a three month Trial Payment Plan (TPP), which willconfirm that their income has returned to pre-disaster levels.

All three of these are already widely held views that (prior to COVID-19, least) were a lot more top-of-mind than cancelling rent.

Line up debt financing prior to going in.

.): "The agencies have confirmed with staff of the Financial Accounting Standards Board (FASB) that short-term modifications made on a good faith basis in response to COVID-19 to borrowers who were current prior to any relief, are not troubled debt restructuring."

Prior to the coronavirus it was very reminiscent of 2005-2008 easy money with LTV up to 95% on some deals.

For instance, you will likely need to do some level of clean-up, painting, and minor repairs, all of which have a cost prior to the new tenants moving in. 

In the Smokies, they just sent out 2 different messages - one telling people not to come and to stay home, the other telling STR owners not to advertise availability prior to 4/14.My local gov contact tells me it was primarily due to cabin owners advertising really low prices on Facebook groups, as well as possible guests looking for accommodations in those same groups.