Quote from @Steve Wright: Not sure what you mean by claiming what I didn't pay, I paid to improve the property before it was rented.Yes, it seems strange to me if someone purchases a home, improves it, then rents it, that they can't claim the value of the improved property for depreciation, as they paid to improve it.Steve, just like on another thread where you were asking about renting to your family, you are not sharing full information and then are getting upset that we are somehow not reading your mind.

Keep in mind though, with no rehab completed, you may need to wait 3-6 months to season before you can refi with cash out. 

Keep in mind if you do get audited, your receipts from grocery stores, local entertainment, etc could substantiate your claim.

Tax considerations involve a lot of personal, specific considerations so you are on the right track going for a CPA (make sure they are familiar with income properties and short term rentals).STR is a business and involves "active" income versus "passive" income associated with typical long term rentals.A few general things:1.

Hey @Jess AzongIndeed there are tax implications to all of this, though keep in mind the LLC is likely a passthrough entity for tax purposes (its probably not a c corp).

I'm not sure, but any advice would be appreciated. ( I live in GA btw don't know if that matters) Hello Hayden, If building capital is your goal, keep in mind that being an agent is a Sales Business.

You should follow Anthony Gaona at Hive Mind. 

I'm a realtor and general contractor in Phoenix and am building duplexes and other house hacking projects with that in mind. 

Stay open-minded, soak up all the info you can, and you'll find your groove in no time.

Hey all, For those of you that are actively buying or have purchased a "Mom and pop" Inn or motel - what metrics matter the most to you?