I understand federally I can deduct payments on mortgage interest, property management fees to my onsite property manager, maintenance, etc.

Then you'll just have to take a chance and find out.I have my theory about who succeeds and who doesn't and I'm working on a Blog to explain it.

The plan for this home is to try it out on the STR market for a few years OR possibly cash out on the investment as I do feel we could sell for much more than we have invested. 

(Click to enlarge.)The key point is that financial freedom depends on income, not property specifics.

If anyone is versed on tax benefits or implications I'd be interested in hearing that as well. 

Before final K1 they just get carry forward.Since they are now allowed, they go to sch1 line5 (from schE line 41) and now they can offset active income (I get pension so line t on schedule 1)Would love to get confirmation @Michael Plaks @Bruce D.

Hi there,When you're dealing with a 7-unit multifamily property that has been deconverted into 7 condos, each with its own PIN, the financing options can be a bit tricky.

Since the landlord didn't lose any rent and there were no damages, I can't see any way this would hold up.If your lease is the standard TAR lease (I'm guessing it's not), there is a clause which deals with early termination.

I've put up with them because they do a decent job keeping the place rented and I have a near perfect reviews on AirBnB.

In 2017, I thought I did just "okay" on this deal.