Hello all,Has anyone sold a short term rental owned over a year  as a non real estate professional that qualified as short term capital gains tax deductions with expenses and depreciation?

Using the cash flow to help with your kids' college expenses is a practical approach.

Your argument would suggest that if I bring home $2k/month in cash flow from a rental property in LA (where I live), that's a good deal, even though I probably had to put $2M cash into it initially.

@Kevin Wood: For those temporary and permanent differences accounts, move them to Other Income and/or Other Expenses and see if you the reports works for you. 

Quote from @Isadore Nelson: I recently acquired a property with an existing tenant who has been living there for about four years.

Last thing to look at (and right out of the pages of our client's own experiences) might be starting a transition of wealth in the form of using 1031 strategically to purchase property that your heirs live in until you pass and they inherit. 

I live in Harlem but work downtown so if I have to go to the building it is not too bad after work.

It is a TON of work but you only need 1 to 2 deals per year to live the good life.

This has been my experience and I live in an ultra-competitive market.

We literally walked the property on live video with you and showed you everything you asked to see.