@Michael MingPay the IRS and postpone buying the property.

RE Pro Status supercharges this.If you or your spouse are an RE Pro, your LP investments can lead to depreciation offsetting both passive and active income.If you are not an RE Pro, the losses due to depreciation can only be used to offset passive income—such as income from other rental properties or other passive investments.

For us it varies by property - smaller more urban units can be 80,90% Airbnb whereas larger beach houses can be as low as 30% Airbnb but company wide on 65 or so doors last I checked was 40% Airbnb, 30% VRBO, 30% Other (Direct, Marriott, Google, Booking.com, Jetblue/Allegiant Airlines, others).

Tell them it’s an investment property with no owner use and you want a commercial policy with $1M/$2M liability coverage.  

I’ve been interested in buying first property and need to learn and connect with people here, Hopefully I can connect with some of you guys in here to find out more information about how to find off market deals.

For our clients, we typically look at the most recent appraisal, county records, or property tax statements from the year of purchase.

Hi Wiley, I'd be happy to look at the property. 

If you rent it, major improvements get capitalized and depreciated over time, while certain expenses (like maintenance) can be deducted once the property is rented out.

You are not allowed to 1031 a flip or a property built specifically for sale. 

I manage all my properties except one so it would be hard to say I don't have the required hours.I also don't have a day job and RE is all I do.