Thanks for the responses everyone, the confusing part to me was if I use the deductions against active income year 1 since STR's are an active business, but then switch to LTR's year 2 which correct me if I'm wrong can't count against active income- if this in some way has a disadvantage with recapture, etc. since the STR business would no longer exist

They are not in the business of owning property.

For me, I knew I wanted to work on building out a listing business for luxury homes so I got to work cold calling luxury home owners and building my brand as a luxury agent.

I'm a full time IT specialist AND have my own home inspection business in Southern CO.

Are you running a business? 

I have successfully used VAs in my on-market and off-market business, but you will fire about 90 percent of them over time.

Thanks,Ratna what everyone mistake is some people is stuck in h1b for decades and they are too afraid to buy primary home, or to buy rental in US or even to apply mortgage which at the end, makes them losing the biggest opportunity to make money in real estate.In reality it doesn't really matter as income from cash flow is a passive investment, you could do even flipping business while on h1 as the profit is from buy and sell activity. 

Making the transition from an employee to a business owner is very hard work but rewarding in the long run.  

This REI business is hard and you need to embrace the ebb and flow of it like any business. 

I was just wondering if anyone knew if I needed to get that transferred to my name/business, or can I just have them renew the registration every year?