So, both my wife and I are full time W2 employees and are in the 24% tax bracket, and I came across the short-term rental loophole which sounds really amazing for taking write offs and using them to reduce your W2 taxable income, but also equally difficult to qualify for, unless you are within a short driving distance to your property.  

Someone or multiple people let you down during this process unless you bought it direct from a wholesaler or seller off-market, then you should have known this would happen.You may be able to go direct to the sheriff as this is not an eviction because she is not a tenant and you own the house.

In the end, if you buy it, the title company would use the proceeds from the sale to pay off the mortgages on the property.

This could conceivably really bump up their annual depreciation write off. 

However, they would probably be financially better off selling and using the proceeds to live on.

If you own commercial real estate property, you are probably well aware of how much property taxes can eat into your profits.

Your milage may vary and obviously this information is current for when they stated it and online screening is a evolving process.Also be aware that you can make them complete your application and use that application and your in-house screening process, you just can't charge them to apply if they supply a PTSR.

Make sure the numbers work and look for off market properties or different booking strategies such as mid term rentals or short term rentals. 

We currently live off of her income from her W2 while getting her company off the ground.

Welcome to BP@Albert Vanek, we noticed you aren’t a Pro member at this time and we would love to offer you a 20% off discount to start taking action in investing with confidence!