So, the property drop just increased my cash flow, without raising the rent.The beauty of this method is two fold:1 - You never ever spend the principle, since every refi allows you to get it back.2 - You never need another source of funds, since you can use the same funds until your arm gets tired.3 - Ok, I said two, think of this a a big bonus.  

Also, you want to search for other terms, like guest house, bonus room, mother-in-law suite, separate living quarters, etc.

I agree that some of those - garage, storage, are definite bonuses.

Hey guysAs most of you know by now, there is a STR loophole that lets STR owners get huge tax savings via bonus depreciation. 

I only have one STR and I am not a high income earner at my W2, so I am trying to accomplish this so that it makes financial sense just for my one unit.Topics of assistance-cost segregation, bonus depreciation, active participation and my logging hours, home office, offset W2, schedule C etc.Thank you in advance,Austin Spitzenberger

@Brian Jasinski keep in mind bonus depreciation is phasing out these next few years unless we get another legislation change so doing the cost-seg and STR loophole won't be as lucrative as it once was.

These reforms can impact property valuation, financing decisions, and investment strategies.Key Points:Interest Deductibility Limitation: Limits on business interest deductions may impact financing decisions and leverage.Bonus Depreciation: Enhanced bonus depreciation rules allow for immediate expensing of certain capital expenditures.Qualified Business Income Deduction: Pass-through entities may be eligible for a deduction of up to 20% of qualified business income, subject to certain limitations.

As a bonus, any suggestions on how to go about finding buyers for a property like this?

If you look at most of the new construction that comes on, they will advertise finished basements or third floor bonus rooms in their square footage (and some even garage space).

The only info I found was with regard to 'bonus depreciation.'