Depreciation is a temporary faux tax break that they'll get back eventually unless you use the 1031 and estate/retirement planning to position it to not impact you in your lifetime.  

Would like to subdivide the living room space to create a 3rd bedroom with temporary walls for renting purposes.

See the chart below for more information.If a Local Ordinance Doesn't Exist, Doesn't Apply, or has Expired.If your city or county hasn't enacted any eviction protections-or it doesn't apply to your situation or has already expired-you still have some protections under the temporary eviction freeze in the courts.

Bigger Pockets Nation!

After about 3 months of listening to Bigger Pockets Podcast, taking furious notes and reading through many forums as I have questions, I'm ready to make my first post!

My wife and I just had a...

There was a withdrawn temporary regulation contained a similar rule that prohibited the aggregation of rental and business operations unless one operation generated less than 20 percent of the combined gross income from both operations. 

I live in Point Pleasant/brick, NJ (the jersey shore area).

My property is in the North Shore but I can send you the unmatched leads I’m getting on furnished finder.what is the typical long term rent for your units?

The Jersey shore income season, as with much of the northern half of the US, is very short.

Commentary: The guy in charge appears to be motivated to create as much 'noise' as possible regarding his temporary ownership of this property.

Basing an STR on tourism or a large industry that uses traveling/temporary workers is a better idea.