I have one more year to decide whether to sell it without getting taxed.

I was told that the ower of the unit was behind on taxes, HOA fees, and the unit was in disrepair.

The principal and interest payment will remain the same, but the loan payoff date will be escalated as you make extra payments towards the principal.The details of your monthly payments should be available on your monthly mortgage statement as it lists the principal, interest, taxes/insurance escrow, and PMI paid that month.

I am sure that you would think that the Turo contract would help with that, but seeing as you are providing it as a service in addition to your STR, I can see issues if there is a problem.Plus you are offering significant services with that rental and that would change your tax situation.

The original bill, talked about here, would quadruple the property taxes on any home operated as an STR for 90 days or more in a year.

Another question to ask yourself is how important tax ramifications are to you?

Accountants are in such demand, that the best are not even accepting clients half the time.The other problem I see often with accountants on here is that they specialize in larger investors, and have really high prices when you as a smaller investor do not need all the bells and whistles.Another thing I see is folks thinking they need to have a tax professional in their state.

Hi Folks,How much did YOU pay your CPA for tax preparation and filing 2016 taxes?

So the monthly rent payments received will not cover mortgage payments, insurance, property taxes, repairs, maintenance, etc, and to avoid default the owner will be required to “come out of pocket” for the negative difference. 

Probably,because they need to get their tax dollars.