It is a new construction home in an up and coming area.

So ask your CPA for a walk-through. 

A lot of your other mid-sized cities have similar risk profiles (dominated by a single industry or a handful of companies). 

AB1482 states that "single-family homes/condos (residential real property that is alienable separate from the title to any other dwelling unit) are exempt from AB 1482 if (1) the owner is not a real estate investment trust, a corporation, or a limited liability company in which at least one member is a corporation and (2) the owner provides the tenant with a written notice of the exemption"The part that is confusing is "...a corporation, or a limited liability company in which at least one member is a corporation."

We purchased a property in early October and are placing it in service this week (mid November).We had intended to run a cost segregation study and try to accelerate depreciation which we can deduct against our W2 (assuming material participation).However, we have been reading through the IRS guidelines (eg publication 946 on Property Depreciation) and there seems to be the concept of "short year" which would mean that we can only deduct ~1.5/12 of a year's worth of depreciation in 2024.Is this correct or are there any different rules for STRs specifically?

Because I park it at home and we cant have a business vehicle parked at home .

I’m curious if truss delivery is still taking a long time.I imagine the recent storms have set you back on your timeline, and wish you clear skies going forward.  

I’m Christian Dozier, a licensed real estate agent with The Nate Evans Group/EXP Realty, proudly serving the Champaign/Urbana area.

We've had owner clients tell us we should be driving by their vacant property several times each day - for free. 

Be sure to attend your local REI meetups to build up a strong network and check out the forum topics specific to your goals.