.- If I deduct the depreciation for tax purposes, I can't add the flooring cost as an improvement to the cost basis when I sell the property down the road correct?

Assuming that John’s wife is managing the Airbnb Rental and qualifies as a material participant, John Doe’s family can deduct $150k from their w2 income for the year 2022 (Bonus depreciation 100%).This would equal $33,000 in a tax refund for the family.

The tax code is verry complex and everybody even accountants will tell you different opinions as to what is right and wrong.

The flood insurance is offset by $600 yearly taxes, but I am having a hell of a time trying to sell it at $93k.

We started the journey last year Sept 2023.The deal closed mid November, after a 2 months journey to find the perfect property (price/Cash Flow/appreciate) and closed on it.Made her aware the holidays isn't the time for renters to move, however, once W2 taxes were issued in January 2024 she would get a tenant.She is officially a landlord!

Make sure to research property taxes, insurance, and any outstanding utility bills. 

I want to do an FHA loan, except for the fact that I don't have the few year span of tax documents needed to get a bank loan.

. $2,500-$2,700 in rent but have a $1,900 mortgage (including current property taxes) plus $100 for insurance, plus a 10% chance of no one renting and another 10% set aside for repairs.After all that I'm in a range of breaking even or making $200 a month with this as a rental.

We also do not really want to go down the whole personal guarantee, W2, tax return, credit score route... or is this something we will have no choice with without hard money in this climate?

Therefore, there is no real tax benefit to having an LLC.You may also want to have a discussion with your attorney on the real level of protection you would receive from this strategy in your state.