While I'm not a STR expert or an attorney, I would recommend to all investors to take their properties out of their personal name and put in an LLC to reduce your personal liability.

At the end of the day, while I do think the current situation will, and already has, reduced the number of unqualified syndicators, as soon as the market starts to rebound, it will be back in force.We are in a market where very few are trying to get into the space.

I have another feature for the future at a reduced cost to install.

And you reduced their rent?

I have suspended Passive Activity loss that would reduce the gain, but not eliminate the gain from tax POV.

Just remember to factor in that you will now have fixed monthly payments on the original three which will reduce your cash flow.

He needs to account for property appreciation, but overall needs to reduce property exposure.

Sock that money in boring investments like index funds and focus on reducing your living expenses. 

Also, I'm looking for something to keep me busy as I ease into my retirement.You are trying to hack the primary residence part to reduce taxes and if you really can do it and you really live there then it will be fair, but if you deviate at all, the town will come for you and you will never get anything renovated if they think you aren't living there and it's not liveable.

But I’d rather see you get massive tax savings and then work with you down the line.We’re Here to HelpIf you're still feeling ready to go after short-term rental tax strategy and significantly reduce taxes from your W2 income, don't hesitate to reach out.