So you would either need to learn a lot about how to be an awesome STR operator and you would probably need to put into your home $20,000 to $100,000 in adding furnishings, design, and adding amenities to make the property desirable.

Quote from @Melanie Baldridge: In 2025 the bonus depreciation rate is 40%.This means that if you bought a property for $1M in 2025, did a cost seg study and found $300K in eligible assets that you could depreciate, you could take 40% of that $300K as bonus depreciation to offset your income in the first year.40% of $300K = $120K.You then apply that $120K to the owner’s personal tax rate to find the final amount that they can defer in year 1.If your tax rate is 37%, you can defer $66.6K.This is a big deal even at the 40% bonus depreciation rate this year.It’s a massive benefit 

If @Drew Sygit doesn't have a local person for you, I have CFO clients in KC, MO that have used this firm: https://propertyvaluationservices.net/services/protest-taxes...

While an LLC can offer liability protection and tax benefits, it’s not essential for a single property—personal liability insurance and an umbrella policy may suffice for now.

Hi Bruce, i'll start by saying i'm a mortgage person, so please understand the context in which my response is coming from. you'd need to create CC&Rs/bylaws and establish an HOA in order to do this.

It doesn't take long to learn how to spot a good deal.6.

This is a great place to learn and to connect with people so take advantage of all the great resources.

There have definitely been many surprises along the way and lots of lessons learned getting our bnb set up.

I also want to learn about other types of investment besides real estate so if you have any suggestions let me know. 

Most DSCR lenders actually prefer you to own the property in an LLC, although some do allow you to close in a personal name.