Appraisal comes back clean and not 'subject to' (your lender can help here).

Hi all,I have a single family home I purchased in June 2021 for 200k.Aside from cleaning up the yard, painting, and new water heater there have been no improvements.I recently got a letter that my taxes are going up as they believe the property to be worth 225k as of June 2022. 

One leaves and it’s $10,000 to clean up?  

The key factor is ensuring the property qualifies for favorable tax treatment by adhering to IRS rules regarding short-term rentals and material participation.For the 7-day rule, the IRS requires that:The average guest stay must be seven days or less for the property to qualify as a short-term rental.If the average stay is 30 days or less, you must provide substantial services similar to what hotels offer, such as daily cleaning or concierge services.Regarding material participation, to further classify the income as non-passive, you must meet one of the following criteria:You spend more than 500 hours actively managing the rental in a year.You manage the business yourself and spend at least 100 hours, with your involvement exceeding that of any other person involved in the rental.Please note there are actually 7 ways to qualify, the above two are the most common.

They are friendly tenants, They call us immediately when there is a problem, and every time either of us is over there, the house is very clean and there are no odors...

Im not a college rental investor, but if it were up to me I would target an area that is safe, clean, high traffic, and a large university. 

It took me years to find a great cleaning crew, for example.

Hey Amanda, In this case, you can likely deduct the cost of cleaning the oil stains from the security deposit.

Safe, clean, etc.

Your reviews, especially when starting, are everything, and the worst reviews come from bad cleanings and things not disclosed in the listing that should be.You are making the right moves with a designer as long as they have experience in your particular area.