Tell us some more about the house hack is it a true multi family or are you just rocking with roomates? 

Congrats - do you ever think you'll expand a buy a true standalone STR of just happy with this current situation?

I’m sure the same is true of Destin - when you have thousands to compete with. 

They will need to make double what my wife and I make to keep the same lifestyle.Then I'll meet a 25 year old computer scientist on here (true story) and he has 180k saved and tells me he can get more don't worry, and I say what the hell did I do wrong?

At a bare bones minimum, the letter confirms the start/end dates of the lease, monthly rent, paid-through date, absence of any prepaid rent other than the current month, and security deposit amount.Better, it will include statements there are no unresolved claims or disputes or repair issues with the current landlord, and no verbal or written side agreements.Better yet, it will include a copy of the tenant's lease, and a confirmation the lease is a true and correct copy with no amendments.

While the IRS does not mandate a physical site visit, the IRS cost segregation audit technique guide (ATG) does suggest conducting “field inspections.”It’s important to note that the ATG is not an official IRS document.It serves as a guide and cannot be used, cited, or relied upon as an authoritative source.However, the recommendations in the ATG are worth considering.According to the guide: “A field inspection is recommended to document the physical details of the building, type of construction, materials used for construction, the assets contained in the building, the size and types of building systems, and any land improvements that were included in the purchase of the property and the condition of that property at the time of purchase.”So while the IRS does not require a site visit for cost segregation studies, following the guidance from the cost segregation audit technique guide can be beneficial.

Is it true for everyone all the time?

They are just partnerships with local teams and the true beneficiaries here are FS and the teams at your expense.

This will give you extra cash flow in the first year and/or the early years to maximize your tax benefits and make your dream come true.

If the property appraises for $500,000, you would only be able to cash out $375,000.Would this still be true as a primary residence or would we be able to find something like 5-10% down on a 30 yr loan?