Ive found "721199 -All other Traveler accommodations (SIC 7011)" to work under the short term rental area as well as the "531110 -Lessors of residential buildings" to also fit.

With such a short timeline for living in the property it makes me question whether buying is the right option.

Shortly after purchasing my home, I got a great job opportunity in another town an hour away from where I lived.

General considerations include:Income Taxes- Report rental income, distinguishing between short-term and long-term rentals.- Utilize depreciation deductions to reduce taxable income.- Understand passive activity loss rules limiting deduction of losses from passive activities.Capital Gains Taxes- Be aware of tax implications when selling property, considering short-term and long-term rates.- Explore strategies like 1031 exchanges to defer capital gains taxes.Deductions and Expenses- Know eligible deductions: mortgage interest, property taxes, insurance, maintenance, and management fees.- Maintain detailed records of all real estate-related expenses.- Use cost segregation studies to expedite depreciation of your properties to offset large income gains.Entity Structure- Choose appropriate legal structure (LLC, partnership, or S corporation) with consideration for different tax implications.Tax Credits- Explore available credits, like energy-efficient or historic rehabilitation credits.Qualified Business Income (QBI) Deduction- Check eligibility for QBI deduction, providing up to a 20% deduction on qualified business income.Record Keeping- Keep accurate and organized records for tax compliance and audits.State and Local Taxes- Consider varying state and local tax implications, including property and income tax rates.Tax Planning- Engage in proactive tax planning, consulting with professionals for a comprehensive strategy.Tax Changes- Stay informed about changes in federal, state, and local tax laws affecting real estate investments.Remember to consult a real estate tax professional for personalized advice based on your specific situation.

Hi everyone my name is Jakob, I have a Bachelor of Commerce specializing in real estate and three successful short-term rental properties, I'm excited to grow my portfolio by venturing into the long-term rental market here in St Pete.St.

When you depreciate that portion of the asset, you reduce your basis, and ultimately increase your future tax liability in exchange for the write off in the current year.1) What is your short/long term plan with the property? 

I'm hoping to find a short term rental in the areas of San Bernardino California within this year.  

Just as there are no requirements to use a short term rental license agreement there are also no requirements to not use them.If you are talking str where the STR is illegal then I agree.

The property must be in an area that the government has identified as an Opportunity Zone.You must have short or long term capital gains. 

Make a short list of questions to ask.