This question comes from me finding a property that seems to be in decent condition for this type of property however it will need alot of work including a second bathroom if I were going to be able to sell it as current 3/2 prices. 

When we purchased this property, it was run down and had major issues to fix and there was an additional .34 acre parcel of land included with the purchase that is located next door.

Depreciation helps reduce your income exposed to taxes, making income from real estate more attractive than w-2 income of the same amount (dollar for dollar).

@Brook Bolger, to add to what Peter said, if/when your property is listed for sale, agents inevitably will ask why there is a discrepancy between public records stating your house has 3 bedrooms and also the square footage so you'll need to tell them that it takes some time for public records to be updated.For the STR portion, when you apply for your permit and state that it's a 4 bedroom (or 5 or whatever including the ADU's bedroom count if including the ADU for guest use), the county may ask you the same question and you'll need to supply the permits and certificate of occupancy.

If you look at most search tools today, you can only search by bed, bath, sq ft, etc. but with expanded parameterized search in a ChatGPT-like query, you can query for N number of attributes.Some things we need to add in at Camphor include satellite imagery and generally for imagery data for communal areas, matterport 3D tours, etc.

The lesson learned here was to meticulously calculate all expenses, including those often overlooked.

Leaving Ram many ten's of thousands just laying around and, most importantly, tax's are a big hit he'd be happy to reduce. 

However, I have been looking at STRs in a different market and have made 3 offers on properties on the MLS in the last month or so (including 2 in the last week).  

Pretend to be a tenant and look at all the rental sites to see what's out there, what's included in the rent and what's not.

This could potentially reduce your tax burden!