So, if you secure just 1 or 2 bookings under 7 days, you could potentially meet the criteria, provided you demonstrate material participation and proper active management of the property.

STRs have very substantial tax advantages compared to other strategies as long as proper tax planning is done.Let’s start by getting an understanding of how rental property loss recognition has evolved over time.

You will have to give them proper notice AND I am unaware of any city or state that allows you to change the lock on a residential tenant.

If you move forward, make sure the LLC is properly set up and operating as a business—especially when it comes to collecting rent and paying the mortgage.Lastly, about taxes—transferring ownership won’t necessarily keep the income off your personal return if you're a single-member LLC, as it's considered a disregarded entity.

If I were the wholesaler, I would make sure to do proper due-diligence and get the RPD and LBP signed alongside ask buyers to speak to an attorney and seek legal counseling if they have any questions.

You just need to do the proper research and have realistic steps to reach your goals:)DM us for more advice.

Also buying new properties could allow you to create the proper legal structure if you haven't already.

I would spend more time making sure that your sponsor is properly incentivized, and that their goals are properly aligned with the investor's goals. 

Perhaps their lease term isn't up or maybe they were not given proper notice to end their tenancy.

I do however believe proper coaching can accelerate you in a given field but this does not appear to be it.