Looking to use the short term rental loophole.If I use the short term rental loophole for my STR, I material participate and do a cost seg study.Can I take the value of the building in the first year as depreciation and write it off against my wife's income?

Finally, focus on high-demand neighborhoods and have a backup plan, like renting if the flip doesn't sell immediately.Let me know if you need financing guidance or further tips.Best,Drago

The City of Henderson offered an incentive of a low interest rate to assist with redevelopment of the site.

I don't like all the email junk BUT I do get it because it keeps your name in front of them.

I would simply tell the tenant that their rent wasn't paid on time.

See post from jay hinrichs about using them and some of the challenges they may provide.

Welcome to the BP family.

Yes they sometimes get on the furniture, but we let the owners know that one of the ottoman's in the living room as a full compliment of furniture covers for all the couches and chairs.

Some of the laws in NY changed recently and you are required to obtain a certificate of no harassment, No permits will be issued until it is resolved.You will need to work with the current tenants for this certificate to be approved which can take up to a year or more, Definitely something big to consider.  

@Ashish Acharya thank you for your response, but I feel I'm still missing/misunderstanding something - you said "the IRS allows spouses to combine their time for material participation purposes", followed by " only one of the spouse's hours counts for the REPS status, which means only one of your efforts can count" - which one it is?