Get caught with your pants down on paper first, it costs less. 

This post is for the STR investors who are looking to take advantage of the STR tax loophole which allows you to write off paper losses against your active income.

You can do it online or with a paper form.

I wouldn't have bought in Class C (the cash flow on paper is actually negative) and gone for Class A for appreciation. 

A cheap house may look great on paper, but the reality is far from that. 

STR has additional expenses like the cost of furnishings, consumables (TP, paper towels, coffee, etc.), utilities, TV/internet, landscaping maintenance, marketing, credit card fees, lodging taxes, etc.

My 0.88% rule on paper has turned into losing $300 to $700 a month with repairs called in by tenant on Class C#1.  

They stated that the “market rent” came lower than expected and tried to tell me that market rents in the area justify $1300, which that’s just what I “accepted” on paper from the tenant.

A paper trail allowing them to see what work was done while also seeing who did the work will deliver more polished products and accountability from all parties.

I tried having her read Rich Dad Poor Dad, I tried explaining on paper, none of it seemed to work.