Thank you Chris, looks like you are pretty active here - I appreciate the connection :)

I'd definitely double check and triple check your local/city regulations in regards to rentals, so there are no surprises as to what you can do legally. 

., in 2024 to create a net loss to offset the income of our LLP, so long as we are active in a separate real estate investment business that we start for the purposes of acquiring property this year and operating the property/properties moving forward.

You're the only member and the activity of the property is reported on your personal tax return. 

Definitely want to consult with a local realtor or real estate attorney 

I'm right where you are actively looking to buy my first house hack in the next couple of months.

While I'm actively exploring various avenues to improve our financial situation, I keep running into dead ends.

Hi Karen, The STR rental is separate from the LTR and other income but the bonus depreciation creates an active loss you can take against your W2 income (vs a loss you push forward into the future).

I would love to get some advice from locals or any real estate expert with experience in Maryland on the best locations (cities, neighborhoods, etc) to buy this type of property at a fair price.Thanks in advance!

Looking forward to being more active in this community and contributing where we can.