Lol, writing a big, fat check to the IRS is the hardest part of flipping. 

People who know way more about REI than I do seem to think that things are quite different than just a few years ago, and that having a good job and excess cash is very prudent right now, and a safeguard for when you do buy your first property.

Long winded goals shortened, I will be done with pay checks in 3 - 5 years and live off rental income, 8 - 10 years have a large excess of cashflow most people would squander, take 5 years off to travel then come back and start a non profit funded by my rentals that designs and creates prosthetics for injured animals.Most of my friends and my now ex gf would role their eyes at me when I would talk about my goals.

(but they HAVE to be fat virgin goat.

There may be a state plan of last resort (often called a FAIR Plan) or an Excess/Surpus market (iel Lloyds of london or similar) that can provide coverage. 

Hence, why they are now able to lend at those lower rates because they have excess money but that begs the question, how long can they sustain going that path when they are paying out more interests on savings, CD's, Money Market, etc. than what they are lending out. 

To the contrary, you want as fat a deal as you can find to absorb any mistakes and not let your first property wipe you out.

Rul. 200601023 ), unexpected excessive noise ( Ltr.

Over the course of the past year we've assembled a development pipeline in excess of $25M in the neighborhood and would love to connect with others who are active in the neighborhood.

This is the info I have found too, I'm in a similar situation that OP and trying to find a way to reduce my w2 tax liability.I am exploring the idea of getting STR and use bonus depreciation, my question is this:Say that I get the property, I get the cost segregation, and I do the bonus depreciation while operating my STR with average stays of 7 days or less and material participation on year 1.Can I then use that bonus depreciation against my w2 income and carry over any excess from year 1 if on year 2 I turn around and convert the property into a long term rental?