Remember to clearly communicate your screening criteria to prospective tenants and apply the same screening process to each applicant.  

No security deposit to refund- here in NJ the governor signed a bill allowing the tenant to request that it be applied to past due rent during Covid, which she did and we gladly accepted. 

As @Dave E. said, the best learning begins when you can apply what you've learned through buying that first property.

This would only apply to individuals whose income exceeds $400K (filing single) or $450K (filing jointly)oMy account balance is nowhere near this now; why are we all investing?

One follow up question to the above that I’d pose here as it may be helpful to others as well: Would your sentiment re: not buying a 1BR in PLG also apply to Prospect Park South?

The rules say it doesn't "apply to any real property held primarily for sale".

Many syndications don't pay off the loan, so the tax will apply (yes, the IRA is subject to tax! 

Applying for a primary residence HELOC on a duplex, in the range of $110-150k to perform some renovations and use for down payment on new duplex purchase.

I think there is such a huge variance in types of STRs, that you couldn't possibly apply that rule in all scenarios. 

These factors, which should continue to apply to the separate entity test under the check-the-box regulations, include—the sharing of profit from the business;the sharing of losses from the business;ownership of a capital interest or performance of substantial services;participation in management; andrepresentation to third parties as a partnership (including the filing of partnership returns, the existence of a partnership agreement).