Is there anything different in terms of STR tax loophole if I do STR by the rooms?

If I had time to take a 2 week course on it to figure it out, maybe I would have felt differently, but I'm looking for uncomplicated and if their stupid webmaster can't come off his high horse and make it easy then I'm not paying $50 a month plus the lead generation costs...and thats my 2¢

@Jon SteffenHi Jon,  I'm in the Lake Tahoe, NV area and there are some different options for the Ski Lease, STR and MTR. 

Some are posted to the Real Estate Events & Meetups under Real Estate Classifieds on BiggerPockets, Eventbrite, and the numerous investor Facebook pages. 

There are numerous numbers you can look at but it really depends on what your investing goals are for. 

I am indifferent to cash flow difference of 200/ month and 500/month, however, I do not want to be in a place chasing long term equity while being negative cash flow.For tax purposes, if I broke even at the end of the year, I would consider it a win.

If you want to use your income to underwrite the loan then you will have a longer seasoning / waiting period as those loans have different rules compared to loans underwritten by the rents / DSCR loans. 

I've included an example below to help illustrate this.So different lenders have different rates (which do vary even for DSCR loans) but these are factors they all consider.See example below:DSCR < 1Principal + Interest = $1,700Taxes = $350, Insurance = $100, Association Dues = $50Total PITIA = $2200Rent = $2000DSCR = Rent/PITIA = 2000/2200 = 0.91Since the DSCR is 0.91, we know the expenses are greater than the income of the property.DSCR >1Principal + Interest = $1,500Taxes = $250, Insurance = $100, Association Dues = $25Total PITIA = $1875 Rent = $2300DSCR = Rent/PITIA = 2300/1875 = 1.23DSCR lenders generally let you vest either individually or as an LLC.

If your loan comes from your builder or if the construction loan comes from your lender (both will have different requirements) and there is a difference between a "one time close" construction loan and a "construction to permanent" loan. 

We have a line of credit that funds the rehab costs.  1, Form an LLC if you have not already. 2,Track all of your expenses accurately.  3,Talk to a CPA about what you need to track and how (Ex:  new appliances for a home are taxed differently than flooring or paint, insurance, Mileage, disposables, tools, etc.)