We currently own our home and we are in the process of renovating a lake house that we plan to hold as a short term rental.  

I stumbled on some information about short term rental tax benefits as it pertains to lowering W-2 Income. 

@Hans Baum Seller can potentially lose that portion entirely if new buyer goes into foreclosure or short sale, so most who will even consider an assumption usually require a buyer who can go through proper VA assumption process and substitute their entitlement.

Obviously, you don't want to have a high interest rate locked in, but if it is the only way to close on an otherwise good deal, the short term cost may be worth it.

By way of example, cash flow is largely relied upon which leads most to invest in zero barrer of entry neighborhoods but the appoach is narrow minded and fails to account for the qualities that are more indicative of a properties performance over time and where the true gains are realized.

Market selection, value offering, pricing strategies and marketing all play key roles in a successful short term rental performance in todays competitive market.  

Since today is the deadline to file 1099s with the IRS for all contract workers, I thought I'd share a simple "best practice" for getting the paperwork done.Print out a short stack of W9 forms to keep in your car or bag, and hand one to EACH vendor upon your first meeting (or at least before you pay them). 

Or $2000 for a separate basement if you're short-term renting it on Airbnb.I'm not saying buy anything, but find a solid home in a solid location and buy it.

My biggest hurdle is resource constraints (admin / FTEs to handle renewals and payment processing) and budget cuts (which lead to more resource constraints).  

If you're only keeping the PM for a short time, I would only ask what the process is for terminating management and determine if you will have to pay any penalties.I would also consider keeping the PM.