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14 November 2024 | 40 replies
If you ask about a city in Kansas and three agents from Kansas answer and all have some call-to-action, they have business to gain from their answer.
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13 November 2024 | 6 replies
At this point, we are three years in, and have learned that you sometimes have to have thick skin (grit) in dealing with tenants, managers, and RV site visitors; while maintaining a sense of humor and humility.
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12 November 2024 | 2 replies
I currently own one Doublewide Home that sits on three acres.
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12 November 2024 | 1 reply
Among many other reasons, I can think of at least three times someone tried to fight me, leaving a gas station or a restaurant there.
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18 November 2024 | 47 replies
Those people overlooking what it means to “materially participate”Here’s the Material Participation Criteria:Spend more than 500 hours on the short-term rental businessDo substantially everything for the STR businessSpend more than 100 hours on the activity and no one other individual spends more time than you doSignificant participation activity for more than 100 hours, and your combined activity in all significant participation activities exceeds 500 hoursParticipating in the business for five of the 10 previous taxable yearsPersonal service activity (non income-producing) for three of the previous taxable yearsRegular, continuous, provable participation in the business for more than 100 hoursA Cautionary Tale: The Story of JacksonLet's take a moment to learn from the mistakes of others.
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12 November 2024 | 2 replies
Maybe I just can get two or three deals a year only.How you guys do those BRRRRs successfully OOS?
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12 November 2024 | 2 replies
I was concerned that there would be substantial erosion of the yard and here we are three years later and it looks like I was correct to be concerned.
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9 November 2024 | 8 replies
I usually only see the tenant when she takes her dog outside on my Ring Doorbell.
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13 November 2024 | 8 replies
You can offset the passive losses from one rental against the positive income from another rental.Therefore, you will likely have a net $3,000 loss across all the three rentals which you would carry forward.If your depreciation was more than $3,000, you basically made cash-flow or rental income that was not taxed, which is good.Best of luck
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5 November 2024 | 22 replies
I've seen complaints from other STR owners with photos of laminate counters with burn rings from hot pots, which won't happen with granite.